Benchmark
Bank of Japan Dot Plot Paints a Pessimistic Picture of Inflation
Almost all board members see greater downside risks for prices
Haruhiko Kuroda, governor of the Bank of Japan (BOJ), speaks during a news conference at the central bank's headquarters in Tokyo, Japan, on Thursday, July 21, 2017.
Photographer: Akio Kon/BloombergThis article is for subscribers only.
Even a quick glance at the Bank of Japan’s latest inflation forecasts makes for disappointing reading. The BOJ pushed back its timetable for hitting 2 percent price gains for a sixth time since Governor Haruhiko Kuroda took over. And it cut its estimates for core CPI for this fiscal year and the next two.
A close look at the individual projections of the board’s nine members released after its July 19-20 policy meeting is cause for even more pessimism.