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The Bank of Japan is expected to consider lifting its inflation forecast for fiscal 2022 from the current 1.9% to 2% or higher at its next monetary policy meeting, to be held for two days from Wednesday, reflecting higher oil prices and other factors.
At the same time, the central bank is expected to discuss lowering the fiscal 2022 economic growth forecast, currently at 2.9%, as corporate production activities are restrained by shortages of parts, due partly to COVID-19 lockdowns in China. Still, the bank is seen maintaining its current massive monetary easing policy.
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