Our Japan Chart Pack has been updated with the latest data and our analysis of recent developments.
The government’s decision to cap gasoline prices means that inflation won’t rise far above the BoJ’s 2% target this year and we expect the BoJ to keep hiking rates roughly every six months to 2% by 2028. While our current forecast is that the Bank will start to hike again in June, risks are tilter towards later tightening.
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