The Nikkei says Don't let the naysayers sway you: While the Bank of Japan's 2% inflation target remains elusive, the domestic economy is clearly picking up.
- In the Outlook for Economic Activity and Prices --due Thursday from the Bank of Japan, the Bank is expected to upgrade its forecast for real gross domestic product for the fiscal year that began in April
- The figure is likely to be slightly higher than the 1.5% predicted in January
- Inflation outlook may get a downgrade, but there is little question the economy is moving in the right direction.
- The Organization for Economic Cooperation and Development and the International Monetary Fund have both upgraded their outlooks for Japan's real growth
The full piece is here, worth a look ahead of tomorrow BOJ announcement and Outlook report
I have another preview posted here: BOJ meets this week - preview(s)
