According to the article, the Bank of Japan raised its economic assessment at its policy meeting outcome on Thursday. In the assessment, the real gross domestic product (GDP) growth forecast for the 2017-18 fiscal year increases 0.1 percent to 1.6 percent, while the core consumer price index (CPI) growth forecast decreases 0.1 percent to 1.5 percent. However, the according to a Japanese economist, even though the BOJ raises some forecast, the yield target should not be increased by the end of next year. He thinks even though the bank now sees the economy expanding rather than just recovering, the lower inflation forecast also indicated that BOJ was still struggling to increase inflation. Economists think the bank remains too optimistic about the inflation. The BOJ has taken essentially a "whatever it takes" stance on boosting inflation, saying it would maintain an easy stance until inflation exceeded its target of 2 percent "in a stable manner."
Low inflation rate has became a serious problem for Japanese economy, one reason account for this, according to the article, is tepid wage growth. Japanese government has tried to address this problem with many measures such as controlling working hours. I'm looking forward to see how Japanese government will do to increase inflation rate in future.
http://www.cnbc.com/2017/04/26/bank-of-japans-waiting-game-set-to-continue.html
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