BoJ deletes mention of time frame for price target in outlook report

Reuters reports the key highlights from the BoJ’s quarterly economic outlook report released following the central bank’s monetary policy decision.

Japan's economy expected to continue expanding moderately.

Momentum for hitting price goal sustained but lacking steam.

Inflation likely to accelerate towards 2 pct as output gap improves, inflation expectations heighten.

Risks to the price outlook skewed to downside.

Risks to economy balanced for fy2018 but skewed to downside for FY2019.

Core CPI expected +1.8 pct in FY2019/20 vs +1.8 pct projected in Jan.

Japan core CPI expected +1.8 pct in FY2020/21.

Japan core CPI expected +1.3 pct in FY2018/19 vs +1.4 pct projected in Jan.

BOJ deletes mention of time frame for price target in outlook report.

Risks to economy are roughly balanced for fiscal 2018.

 Risks to economy in fiscal 2019 are to downside.

No big change in price forecast for fiscal 2019.

 Inflation expectations pose both downside and upside risks.