The Bank of Japan (BOJ) will likely consider raising its inflation forecast at a policy meeting later this month after surprisingly strong results from annual wage negotiations, according to people familiar with the matter.
The central bank will probably discuss revising up its projection for growth in consumer prices excluding fresh food from the current 2.4% for the fiscal year that started this month, the people said. In its first projection for the fiscal year from April 2026, the BOJ is likely to forecast inflation of around 2%, they added.
The BOJ concludes its next two-day gathering on April 26 and is widely expected by economists to keep its policy settings steady for now.