• core CPI median forecast for fiscal 2022 at +1.1% vs +0.9% in October
  • core CPI median forecast for fiscal 2023 at +1.1% vs +1.0% inOctober
  • core CPI median forecast for fiscal 2021 at 0.0% vs 0.0% inOctober
  • real GDP median forecast for fiscal 2022 at +3.8% vs +2.9 % inOctober
  • real GDP median forecast for fiscal 2023 at +1.1% vs +1.3% inOctober
  • real GDP median forecast for fiscal 2021 at +2.8% vs +3.4% inOctober

BOJ QUARTERLY REPORT:

  • risks to Japan’s price outlook roughly balanced
  • risks to Japan’s economic activity are skewed to downside
  • risk to economic activity generally balanced thereafter
  • projected that pass-through of raw material cost increases will progress moderately