BOJ Outlook Crashes Down to Earth With More Realistic Forecasts

For the first time since Haruhiko Kuroda took the helm in 2013, the Bank of Japan isn’t projecting more optimism than private economists in a shift in its messaging facilitated by Covid-19.

While helping support companies, ease liquidity issues and stabilize markets since March, the BOJ has also de-emphasized the link between prices and its policy stance, and dialed back its forecasts to more realistic levels.