BOJ Tankan: Firms see inflation at 0.8% y/y in 12 months

The Bank of Japan (BOJ) Tankan report for the second quarter, says the firms expect a moderate rise in the inflation over the 12-month period, while the in the long run inflation is still seen well short of the BOJ’s 2% target. 

Inflation is seen at 0.8% y/y in 12 months, up from 0.7% mentioned in the Q1 survey. Over a three year and five year period, inflation is seen rising 1.1% y/y (from the previous forecast of 1%).