TOKYO, Oct 31 (Reuters) - The Bank of Japan kept monetary policy steady on Tuesday even as it slightly cut its inflation forecast for the current fiscal year, signalling its conviction a solid recovery will gradually accelerate inflation toward its 2 percent target. Following is a table of median forecasts by the BOJ's nine board members of gross domestic product (GDP) and core consumer price index (CPI) at a quarterly review of its long-term economic and price projections. Previous forecasts issued in July are in parentheses (all year-on-year percentage changes):
REAL GDP CORE CPI FY 2017/18 +1.9 +0.8 (+1.8) (+1.1) FY 2018/19 +1.4 +1.4 (+1.4) (+1.5) FY 2019/20 +0.7 +1.8 (+0.7) (+1.8)
*The core CPI excludes the effect of volatile fresh food prices but includes oil costs. The CPI forecast for fiscal 2019 excludes the effect of a scheduled sales tax hike in October 2019 to 10 percent from 8 percent.
(Reporting by Stanley White; Editing by Chang-Ran Kim)