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BoJ Likely To Raise Consumer Price Outlook: Report

4/17/2012 11:47 PM ET

The Bank of Japan may increase its consumer price predictions for the current and next fiscal years at its upcoming monetary policy meeting on April 27, reports said Wednesday citing a news from Nikkei.

According to the Nikkei report, the central bank may raise its core consumer price index forecast to 0.1-0.5 percent for fiscal 2012, and to 0.5-1 percent for fiscal 2013.

BoJ is considering moderate upward revisions to inflation outlooks "as high oil prices and post-quake rebuilding demand are pushing up the consumer price index's rise faster than expected," Nikkei said.

According the latest official data, core consumer prices were up 0.1 percent on year in February. In February, the central bank set a numerical inflation target of 1 percent for the first time.

Also, the bank is widely expected to consider further monetary easing at this month's meeting.

by RTT Staff Writer

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