The Bank of Japan (BOJ) is expected to maintain ultra-loose monetary policy this week and its forecast for a moderate economic recovery, as robust corporate and household spending cushion the blow from slowing overseas demand, sources said.
The central bank also may signal that inflation is overshooting its forecasts, which would heighten the chance of an upgrade in its price projections at a quarterly review of its estimates due in July, they said.
"But the BOJ must support the economy to ensure recent positive signs are sustained, and help Japan sustainably achieve 2% inflation," the source said, a view echoed by two more sources. But the BOJ will stick to its view the world's third largest economy is headed for a moderate recovery as a post-pandemic pickup in consumption offsets soft exports, they said.
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