BOJ Tankan follow-up out now - firms' inflation expectations down slightly
Japanese firms expect consumer prices to rise an annual 1.0% 3 years from now vs +1.0% in the previous survey
- expect consumer prices to rise 0.8% a year from now vs +0.9% in the prior survey
- expect consumer prices to rise an annual 1.1% 5 years from now vs +1.1% in the prior survey
Only that one minor fall in expectations. Given the Japanese government announced an extra fiscal stimulus package last week (circa 120bn USD worth) the BOJ meeting this week appears likely to result in no change to monetary policy.