Japan – More from the BOJ Tankan (Q1) – inflation expectations survey component

• Japanese firms expect consumer prices +0.8% a year from now (vs +0.8% in the previous in survey)
• Firms expect consumer prices +1.1% yr/yr 3 years from now (+1.1% prior)
• Firms expect consumer
  prices +1.1% yr/yr 5 years from now (+1.1% prior survey)

All unchanged and all well short of the 2% BOJ target.