BOJ mulls raising inflation outlook to near 3% for FY 2023

The Bank of Japan is considering raising its inflation outlook for the current business year to next March to near 3 percent from 2.5 percent at present, sources close to the matter said Tuesday.

The upward revision is meant to reflect price hikes that have been broadening further than expected and rising crude oil prices, the sources said, with the yen’s depreciation also boosting import prices.

The BOJ is scheduled to release a fresh economic and price outlook report at the end of a two-day policy meeting through Oct. 31.

During the upcoming policy-setting meeting, the Policy Board will exam...