Inflation forecast by companies stays below bank of Japan

Japanese companies expect consumer prices in the country to have risen 1.5% on average in a year's time, unchanged from three months ago and well below the Bank of Japan's 2% inflation target, data released by the central bank showed Wednesday.
The survey conducted in June also showed the companies project only a 1.6% and 1.7 increase in three years and five years from now, in contrast to the BOJ's expectation that the inflation goal would be achieved around 2015, according to Japan's (Kyodo) News Agency.
This could add to pressure on the BOJ to further ease its monetary policy to boost the economy out of nearly two decades of deflation.