Nikkei report
The BOJ will consider lowering their inflation forecasts for the next two years at a meeting this month to reflect lower oil, cuts in cell phone prices and cheaper preschool.
The Jan 23 meeting includes the semiannual Outlook for Economic Activity and Prices report and policymakers are considering lowering the inflation forecast to 1.0% from 1.4%, Nikkei says.
"Few within the BOJ are suggesting that additional easing measures need to be announced this month, despite the recent gyrations in financial markets," the report says.
I've been waiting all day for some kind of BOJ response to the rip in the yen and it looks like a leak on forecasts is how they're intending to communicate something to fight yen strength. That said, the market's taken back the vast majority of the move.
