Outlook  Against the background of such developments, the Bank of Japan revised the forecasts for both economic activity and prices for the period from fiscal 2015 through fiscal 2017 in its January 2016 Outlook for Economic Activity and Prices (hereafter the Outlook Report).
Comparing the median of the Policy Board members' forecasts in the January 2016 Outlook Report with that in the October 2015 report, the projection for the real GDP growth rate was more or less unchanged.