Firms surveyed by BOJ expect CPI to be still above the Bank's 2% target in 1, 3 & 5 years

<p>The Bank of Japan keep telling us that they view above target inflation as transitory.</p><p>Firms surveyed in the Bank of Japan Tankan price expectations survey completely disagree.
The BOJ June Tankan Corporate Price Expectations survey reports that
Japanese firms expect</p><ul><li>Consumer prices to
rise 2.6% a year from now vs +2.8% in the previous survey</li><li>Expect consumer
prices to rise an annual 2.2% 3 years from now vs +2.3% in prev
survey</li><li>Japan firms expect
consumer prices to rise an annual 2.1% 5 years from now vs +2.1% in
prev survey</li></ul><p>More on the Tankan is here:</p><ul><li><a href="https://www.forexlive.com/centralbank/boj-q2-tankan-improves-from-q1-large-manufacturing-9-vs-5-expected-and-prior-1-20230702/" target="_blank" rel="follow" data-article-link="true">BOJ Q2 Tankan improves from Q1: Large Manufacturing outlook 9 (vs. 5 expected and prior 1)</a></li></ul><p>And, background here:</p><ul><li><a href="https://www.forexlive.com/centralbank/bank-of-japan-q2-tankan-report-coming-up-soon-a-similar-indicator-has-been-much-improved-20230702/" target="_blank" rel="follow" data-article-link="true">Bank of Japan Q2 Tankan report coming up soon – a similar indicator has been much improved</a></li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.