Thursday January 22, 07:09 AM
UPDATE 1-TABLE-BOJ revises down sharply GDP, CPI forecasts
TOKYO, Jan 22 (Reuters) - The Bank (NASDAQ: TBHS - news) of Japan cut its economic
growth forecast on Thursday, predicting the world's No.2 economy
would contract for two full years through March 2010.
The central bank said the economy would likely shrink 1.8
percent in the current fiscal year to March and contract 2.0
percent the following year, down from its forecasts issued in
October for growth of 0.1 percent and 0.6 percent, respectively.
Following is a table of forecasts by the BOJ's policy board
members for Japan's real gross domestic product, core consumer
price index (CPI (NYSE: CPY - news) ) and corporate goods price index (CGPI).
The previous forecasts for its semiannual outlook report
issued in October are in parentheses; all in year-on-year
percentage change:
FY 2008/09 Real GDP CGPI Core CPI
Median -1.8 +3.1 +1.2
(+0.1) (+4.6) (+1.6)
Majority f'cast -2.0 to -1.7 +3.0 to +3.2 +1.1 to +1.2
(+0.1 to +0.2) (+4.3 to +4.8) (+1.5 to +1.6)
All members f'cast -2.0 to -1.6 +2.8 to +3.2 +1.0 to +1.2
(-0.4 to +0.3) (+4.0 to +4.8) (+1.5 to +1.7)
FY 2009/10 Real GDP CGPI Core CPI
Median -2.0 -6.4 -1.1
(+0.6) (-0.8) (0.0)
Majority f'cast -2.5 to -1.9 -7.0 to -6.0 -1.2 to -0.9
(+0.3 to +0.7) (-1.4 to -0.4) (-0.2 to +0.2)
All members f'cast -2.8 to -1.8 -7.0 to -5.0 -1.3 to -0.8
(+0.3 to +0.8)(-1.5 to -0.2) (-0.3 to +0.3)
FY 2010/11 Real GDP CGPI Core CPI
Median +1.5 -0.9 -0.4
(+1.7) (+0.3) (+0.3)
Majority f'cast +1.3 to +1.8 -1.5 to -0.8 -0.6 to 0.0
(+1.5 to +1.9) (-0.3 to +0.5) (+0.1 to +0.5)
All members f'cast +1.2 to +2.0 -1.8 to -0.5 -0.7 to 0.0
(+1.3 to +2.0)(-0.3 to +0.6) (-0.1 to +0.5)
Majority forecasts are shown as a range of board members'
forecasts, excluding the highest and lowest figures. The
nine-member board currently has one vacancy.
For details of the BOJ's statements on monetary policy, click
http://www.boj.or.jp/en/theme/seisaku/kettei/index.htm
(Reporting by Tetsushi Kajimoto)
For more on Japanese monetary policy click: -- Bank of Japan news in English -- BOJ rate polls and -- Chronology of BOJ policy moves since 1973 -- Profiles of BOJ policy board members -- Swap contracts on BOJ overnight call rate -- Bank of Japan news in Japanese -- Bank of Japan Web site http://www.boj.or.jp/ For more central bank news click: -- Top News from central banks -- Central bank (CBSU.PK - news) diary -- World (WRGR.TA - news) official interest rates -- U.S. Federal Reserve outlook -- Reuters polls For more on Japan's economy click: -- Coverage of economic indicators -- Diary of upcoming Japanese indicators -- Reuters Tankan business confidence poll Access to some items may depend on permissioning. If you need assistance click Keywords: JAPAN ECONOMY/BOJ FORECAST
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