According to insiders, the Bank of Japan is likely to discuss raising inflation expectations for fiscal years 2023 and 2024 at this month's policy meeting, thereby extending the time it believes prices will reach or exceed the 2% target. Bank of Japan officials expect consumer price expectations, excluding fresh food, to rise to 2% or higher in the year starting in April, up from the 1.9% forecast in July. The inflation expectation for this fiscal year may be raised from 2.5% to nearly 3%, which means that the central bank will see inflation rates reach or exceed 2% for three consecutive years. After Japanese companies passed on costs to consumers, officials believe that the weak yen and rising oil prices have added inflationary pressure. Despite this, officials believe that the Bank of Japan's 2% target is still far away, and the 2025 fiscal year may remain around the current forecast of 1.6%.