BOJ39;s expected upward price revision may not say much on rates
Ueda39;s datadependent stance may mean more nuanced policy hints
Consumption, wage data key to next BOJ rate hike timing
BOJ next meets on April 2526, issues quarterly forecasts

TOKYO, April 15 Reuters The Bank of Japan is shifting to a more discretionary approach in setting policy, with less emphasis on inflation, sources said, as the central bank maps its monetary path following the historic decision to end a radical stimulus programme in March.

With monetary settings seen on hold, market players are focusing on the BOJ39;s fresh quarterly growth and price projections due at its April 2526 policy meeting, for hints on how soon it may hike rates again.

While the central bank is expected to project inflation to stay around its 2 target through early 2027, such forecasts alone won39;t serve as strong hints of a nearterm rate hike, say three sources familiar with its thinking.

Various data must be scrutinised, not just the inflation outlook, one of the sources said, pointing to the importance of other indicators such as consumption, wages and the broader economy.

BOJ officials, including governor Kazuo Ueda, have said the focus would be on whether wage increases will broaden, and prod firms to hike prices not just for goods but services.

The BOJ ended eight years of negative rates and other remnants of its unorthodox policy last month, making a historic shift away from its focus on reflating growth…