Judging by what I've seen about the place there are plenty of people either not paying attention or who are wilfully (or otherwise) clueless
Here is the reality:
- Economic indicators from Japan have been on the improve
- Inflation indicators from Japan have been low and not showing much in the way of signs of rising
And, thus, here is what the Bank of Japan is considering:
- Raising its outlook for growth
- Lowering its outlook for inflation
OK, now that's out of the way:
The Bank of Japan is expected to increase its economic growth projections
- For fiscal year 2017 (the current one), by 0.1% for GDP
- And for fiscal 2018 by 0.2%
- The Bank will likely cite individual consumption and rising capes, along with the already established improvement in exports etc.
OK ... note ... this is not a done deal. There are analysts saying the Bank may downgrade its growth forecasts.
Moving on .... inflation is another matter entirely. The Bank is considering downgrading its CPI forecasts for FY 2017 & 2018.
The Bank of Japan July policy meeting is on the 19th and 20th