Bank of Japan positive on growth and price stability By David Pilling in Tokyo ft
"The Bank of Japan forecast a steady turn to price stability, with an expected rise in the core consumer price index of 0.6 per cent this financial year and 0.8 in the year to April 2008.
The bank said Japan's potential growth rate was higher than previously thought, at 1.5 per cent to 2 per cent a year instead of 1 per cent. It predicted real growth in gross domestic product of 2.4 per cent this year, slowing slightly to 2 per cent next year.
The predictions came after preliminary figures for April showed that the core CPI in Tokyo, considered a leading indicator for the country, rose 0.3 per cent against 0.2 per cent in the previous month. Nationwide figures for the year to April showed that Japan had inflation of 0.1 per cent, the first increase in eight years."
next week when the commodity margins get raised $yen will fall - the target of the curent pattern is 111.50 since breakout
also these numbers today will force exporters to hedge some more receipts
best of luck though
