Japan’s Central Bank Raises Price Forecast as Global Inflation Bites

(Nikkei Asia) — The Bank of Japan on Tuesday raised its inflation forecast for the coming fiscal year, with rising prices potentially dragging further on the nation’s slow recovery from the Covid-19 pandemic.

According to the central bank’s quarterly outlook report, the median forecast for consumer inflation among its nine policy board members came in at 1.1% for fiscal 2022, which starts in April, up from 0.9% three months ago.