Core CPI will probably show gains of 0.3 percent or 0.4 percent in the January-March period.

Yesterday's quarterly survey by the Ministry of Finance supports our view that any improvement in business sentiment stalled in the March quarter but this was largely due to a reaction to accelerated growth in the previous quarter.

Fukui may make remarks that seek to curtail the recent spike in yields, on the view that recent rises are too much.

Growth will accelerate. The environment around the bond market toward the end of March will not be so good.

The chance for a policy change next week has now risen to close to 100 percent.