The Bank of Japan is likely to revise its inflation and growth forecasts later this month as a weaker yen and cost-push inflation force more companies to pass higher costs to consumers, according to people familiar with the matter.
According to the people, the central bank will probably raise its quarterly price projection to its target level of 2% or above for the year ending March next March from the 1.9% view it gave in April. They said an upward revision of the 1.1% forecast for the following year is likely to be discussed at the meeting on July 20 and 21.
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