Recent Economic and Price Developments and the Bank's Conduct of Monetary Policy  Prices The BOJ's Forecasts for the CPI 4  Crude Oil Prices  y/y % chg.  120  FY 2022 +2.9%  3  $  100 FY 2023 FY 2024 +1.6% +1.6%  2  1  80  60 Forward month futures prices  0  40  -1  20  -2 FY 13 14 15 16 17 18 19 20 21 22 23 24  0 FY 13 14 15 16 17 18 19 20 21 22 23 24  Notes: 1.
Official international reserves have increased to a comfortable level of 6 months of import cover in May 2006, and are expected to continue to increase in 2006. 2  BIS Review 82/2006