boj minutes, 2025-03-19
With regard to the outlook for the CPI, while the effects of the pass-through to consumer prices of cost increases led by the past rise in import prices were expected to wane, underlying CPI inflation was expected to increase gradually, since it was projected that, with a growing sense of labor shortages, the output gap would improve and medium- to long-term inflation expectations would rise with the virtuous cycle between wages and prices continuing to intensify.
Sentiment: neutral
Topic: mp_economic_activity