The Reuters report says that the Japanese central bank is expected to slightly revise its inflation forecast for the coming fiscal year (which starts in April) on rising energy costs. That said, the new projection is likely to just exceed 1% and still keep well below the 2% central bank's 2% target.
But at least it will be an improvement to the inflation forecast from October of 0.9% for the fiscal year 2022.
The BOJ will produce its next set of quarterly projections at the next policy meeting on 17-18 January.
Despite the headline, the fact that the forecast will still see inflation well below its 2% target means that the BOJ will not be stepping away from its "powerful and persistent" monetary easing any time soon.