- Said to be mulling changing view of CPI to accelerate in H2 FY 2015
a change in tone would not be unexpected as we had the “sources” stories about the Bank of Japan seeing a greater risk of CPI falling below 1% on the fall in oil prices last week.
There’s not a lot that the BOJ can do with monetary policy when price fluctuations in oil are outside of their control.
Just reading further details and this is another “sources” story saying that the BOJ may scrap their forecast that core CPI will follow a rising trend for the second half of the current fiscal year. We get the latest BOJ GDP and CPI forecasts on Friday.
USD/JPY continues to remain offered today and we’ve just come of a new low at 107.75
