Latest forecasts released by the Japanese Cabinet Office - 18 December 2019
- Sees real GDP growth of 0.9% for fiscal year 2019 (unchanged)
- Sees nominal GDP growth of 1.8% for fiscal year 2019 (1.7% previously)
- Sees CPI at 0.6% for fiscal year 2019 (0.7% previously)
- Sees real GDP growth of 1.4% in fiscal year 2020 (1.2% previously)
- Sees nominal GDP growth of 2.1% for fiscal year 2020 (2.0% previously)
- Sees CPI at 0.8% for fiscal year 2020 (unchanged)
The upgraded forecasts come after the launch of the economic stimulus package earlier this month. Notably, they are still not confident - rightfully - that inflationary pressures will improve and that will continue to keep the BOJ on the defensive over the next few years.
