BOJ policy board members' CPI, GDP forecasts for FY2025-2027
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Here are the median forecasts for changes in real gross domestic product (GDP) and consumer price index (CPI) from the Bank of Japan's policy board members.
(year/year % change, previous forecasts in brackets)
Real GDP | Core CPI (excl fresh food) | Core-core CPI (excl fresh food, energy) | |
Fiscal 2025/26 | +0.5 (+1.1) | +2.2 (+2.4) | +2.3 (+2.1) |
Fiscal 2026/27 | +0.7 (+1.0) | +1.7 (+2.0) | +1.8(+2.1) |
Fiscal 2027/28 | +1.0 | +1.9 | +2.0 |
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