Bank of Japan meeting minutes: inflation projections revised down
Bank of Japan board members revised down inflation forecast for the next year, pushing the expected date of achieving the inflation target of 2% at a later date.
"Lowering the inflation outlook for the fiscal 2016 mainly due to slowing economic growth, wages, and not on the price of oil,". Now it is expected that inflation will be 0.5%, while in January forecast was 0.8%.
One member of the Board said that the lack of action at the April meeting does not change the position of the central bank.
"We need a little more time before the measures of monetary policy impact the economy. It is necessary to assess the risks at each meeting, and to take new measures if necessary"