Bank of Japan Governor Kuroda says that the y/y rise in core CPI is likely to slow from around the middle of the next fiscal year.
Japan's next fiscal year runs from April 2023 to March 2024.
Which puts the middle of it around October 2023. Which is 11 months from now. Wow. Plenty of other central bankers around the world expected inflation to be transitory, as Kuroda does now. They were very, very wrong. Sitting out the next 11 or so months would seem to set up a gigantic policy error if Kuroda is incorrect in his view of a decline in core CPI.
