- Votes 8-1 to keep monetary policy unchanged, BOJ FY 2017 Core CPI forecast is 1.7%
- Maintains policy balance rate at -0.10%, FY2018 core CPI forecast is 1.9%.
- CPI forecasts exclude effect of sales tax increases, CPI to hit 2% target during FY 2017.
- Will add easing if necessary, expects price trends to steadily rise.
- Downside risks are high for price outlook, sees large downside risks for economic outlook.
- Japan's CPI to be around zero percent for time being, CPI will pick up its pace toward 2%.
- Japan's economy has continued moderate recovery trend, will continue easing until 2% inflation is stable.
Reference: FXStreet
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