The confidence that Bank of Japan officials are demonstrating in achieving their inflation target is lowering the chances of additional monetary easing this year even as the economy weakens.
Consumer prices excluding fresh food but not energy will increase 1.9 percent in the fiscal year starting April 1, 2015, and 2.1 percent the following year, according to the median estimates of BOJ Policy Board members in a quarterly outlook released Wednesday.
BOJ Gov. Haruhiko Kuroda said the timing for hitting the BOJ's 2 percent goal hasn't been pushed back at all.
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