Financial Conditions surrounding Firms and the Bank's Conduct of Monetary Policy  The Bank's CPI Forecasts 2  y/y % chg.  FY 2022 +0.9%  FY 2023 +1.0%  1  0 FY 2021 +0.0%  -1  -2 CY15  16  17  18  19  20  21  22  23  24  Note: Figures are the CPI (all items less fresh food) excluding the direct effects of the consumption tax hike in April 2014.
Percentage figures indicate the medians of the Policy Board members' forecasts (point estimates) presented in the October 2021 Outlook Report. Sources: Ministry of Internal Affairs and Communications; Bank of Japan. 11■