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BOJ raises price forecast, keeps policy steady -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Man walks by the Bank of Japan building in Tokyo (June 24, 2015). Picture taken June 24, 2015. REUTERS/Toru Hansai

TOKYO (Reuters), – On Tuesday, the Bank of Japan raised its inflation forecasts for the fiscal year that began in April. It said the risks to the price outlook were equally balanced. They also acknowledged recent evidence of a wider commodity-driven rise.

It was widely anticipated that the central bank would keep unchanged its short-term target rate of 0.1% and promise to maintain 10-year yields at zero.

The BOJ released a quarterly report on Tuesday that stated “Risks to price are generally balanced”. It also noted there was the possibility that higher raw material costs might prompt firms to shift more costs onto consumers sooner than they expected.

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