The rate for fiscal 2019 is likely to slow and move in the range of 0.5-1.0 percent as the pace of expansion in the global economy will probably decelerate and as domestic demand is likely to deteriorate mainly reflecting the effects of the consumption tax hike scheduled to take place in October 2019.
Studies of forward guidance suggest that the practices do influence markets rates in the desired ways, though there are also cases – notably in Sweden – where market rates do not seem to align well with the announced policy intentions.