日本：日本银行展望报告全文称通胀锚定在2%目标取得渐进进展
日本银行（日本央行）11月2日发布季度展望报告全文表示，日本在把通胀锚定于央行2%目标方面取得渐进进展，这一判断强化了加息的理由。日本银行通常在政策会议结束后的下一个市场日发布报告全文，会议当天先发布摘要。
报告说，日本银行在作出判断时综合考察了通胀预期、企业工资与定价行为，以及家庭与企业在多大程度上按照物价将上涨约2%的假设行事。报告写道：潜在通胀在2%附近运行、上行价格风险值得关注，加息将有助于缓解价格压力并支撑消费。
企业的通胀预期似乎正逐步收敛于2%附近，家庭的通胀预期则差异较大。报告还指出，近年来，与2%涨幅加劳动生产率增长大体一致的工资涨幅所占比例已经上升，潜在通胀在过去几年已升向2%附近的水平，向该水平锚定取得渐进进展。
报告说，近期国内实际消费疲软，原因包括夏季恶劣天气与生活成本上升对支出的拖累；但得益于政府抑制燃料价格的补贴、股价上涨以及劳动力市场紧俏带来的工资上升，消费整体有望保持韧性。
Japan: Bank of Japan Full Outlook Report Says Inflation Is Gradually Anchoring Around 2 Percent Target
The Bank of Japan said in the full version of its quarterly outlook report, published on November 2, that Japan has made gradual progress towards anchoring inflation around the central bank's 2 percent target, a judgement that bolsters the case for raising interest rates. The BOJ publishes the full version of its report on the market day after it concludes its policy meeting, at which it releases a summary.
In reaching its decision, the BOJ weighed up inflation expectations, firms' wage- and price-setting behaviour, and the degree to which households and firms act based on the assumption that prices will rise by around 2 percent, the central bank said. With underlying inflation moving around 2 percent and upside risks to prices warranting attention, interest rate hikes will likely alleviate price pressures and underpin consumption, the report said.
Firms' inflation outlook appears to gradually converge around 2 percent, while households' inflation expectations vary widely, the bank added. It also noted that in recent years, the share of wage increases at levels broadly consistent with a 2 percent increase plus labour productivity growth has risen, and that underlying inflation has risen toward a level around 2 percent over the past few years, with gradual progress toward anchoring it at that level.
Domestic consumption has recently been sluggish in real terms, the bank said, due to bad weather during the summer and a hit to spending from rising living costs. But consumption as a whole is likely to remain resilient, it said, partly thanks to government subsidies to curb fuel prices, higher stock prices and rising wages from a tight job market.
来源：GSM·美国（原文链接）
图片来源：照片：日本银行总行大楼，Syced 摄，Wikimedia Commons，CC0 授权 / Photo: Bank of Japan head office, by Syced, Wikimedia Commons, CC0
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