The outlook for the RBA has now shifted and the RBA now meets the targets it has set for itself. The Bank of Japan has upgraded its inflation outlook, but this has not signalled a change in monetary policy. The last BoJ meeting was uneventful and the bank is not expected to change its ultra-low interest rate policy for the foreseeable future. It, like most central banks, sees wages as the key driver for inflation they need to watch. In its summary of opinions, it states that wages are less likely to rise in Japan than they are in the US and Europe. See its summary of opinions here. The BoJ needs a change in the board ... (full story)