The Bank of Japan is considering lowering its inflation outlook for the fiscal year of 2024 to the mid-2% range in its upcoming quarterly report, which will be published on January 23, Jiji news agency reported on Thursday, per Reuters.

Market reaction

This headline doesn't seem to be having a noticeable impact on the Japanese Yen's performance against its major rivals. Ahead of the highly-anticipated Consumer Price Index (CPI) data from the US, USD/JPY was seen trading modestly lower on the day at around 145.50.