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The BoJ will likely cut its economic forecasts

The BoJ will likely cut its economic forecasts | 23 August 2022

23 August 2022, USD/JPY

The BoJ will likely cut its economic forecasts

USDJPY trading plan:

The Bank of Japan will likely cut its economic forecasts at its next quarterly review in October, as slowing global demand and a resurgence in COVID-19 infections hurt exports and consumption, the bank's former top economist Seisaku Kameda said. Japan's economic recovery is at a "critical juncture" as consumption appears to have stalled during the summer, dashing policymakers' hope households will boost spending with savings accumulated during the pandemic, Kameda told. Kameda said the Bank of Japan may cut its growth forecast for the fiscal year ending March 2023 to 2% or lower, from the current forecast of 2.4%, made in July.

Investment idea: buy 136.95 and take profit 137.55.

David Johnson
Analyst of «FreshForex» company
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