The Bank of Japan stuck to its upbeat inflation outlook Wednesday, projecting that prices will hit its 2% inflation target and stay there without the need for fresh monetary stimulus.
The central bank’s latest outlook report on prices and growth–important for the central bank in formulating future policy–is being closely monitored in markets as a gauge to whether the central bank will take additional easing step in the coming months.
While some economists have recently abandoned their expectations for extra steps for the rest of this year, the majority of them expect the central bank to do more to spur the economy and keep inflation expectations alive.
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