TOKYO: The Bank of Japan will raise its inflation forecast for this fiscal year to above 2.5% at its next policy meeting as a weakening yen and high raw material costs drive up prices, Kyodo news agency cited sources as saying on Monday.
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In quarterly projections due to be released at the conclusion of the Oct. 27-28 policy-setting meeting, the BOJ will likely lift its core consumer inflation forecast for the fiscal year through March 2023 to above 2.5% from the current estimate of a 2.3% rise, Kyodo reported.
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