BOJ May Lower FY 2021 Economic Growth, Price Forecasts

Economy Politics

Tokyo, Oct. 20 (Jiji Press)--The Bank of Japan is considering revising down its fiscal 2021 forecasts for the country's economy and prices in a quarterly report to be released next week, informed sources said.

This is because automobile production has decreased due to parts shortages amid the novel coronavirus crisis and mobile phone communications fees have fallen, the sources said.

The BOJ will release its new Outlook for Economic Activity and Prices report Oct. 28 just after a two-day monetary policy meeting.

The previous July report said the country's gross domestic product would grow 3.8 pct in price-adjusted real terms in the year that started in April.

The core consumer price index, excluding fresh food prices, was forecast to rise 0.6 pct.

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