The Bank of Japan is likely to consider revising its inflation and growth forecasts later this month as a weaker yen and cost-push inflation force more companies to pass on higher costs to consumers, according to people familiar with the matter.

Asian stocks managed gradual gains on Thursday as investors grappled with the risks of a recession and a potential pause in interest rate hikes, while the euro traded at a two-year low and oil began to claw back overnight losses.

Oil prices regained a footing on Thursday from steep falls in the previous two sessions, as investors returned their focus to tight supplies even as fears persisted over the demand outlook amid risks of a global recession.

The dollar was down on Thursday morning in Asia despite expectations of aggressive interest rate hikes that grew over the hawkish minutes of the U.S. Federal Reserve’s June meeting.

SINGAPORE/HONG KONG, July 6 (Reuters) - The dollar stood tall on Wednesday, holding at a 20-year peak against the euro and multi-month highs against other major peers as higher gas prices and political uncertainty renewed recession fears and sent investors scrambling to the safe-haven currency.

TOKYO, July 6 (Reuters) - Asian stocks slipped and the dollar stood by a two-decade high on the euro on Wednesday as investors' fears deepened that the continent is leading the world into recession, while oil and European equity futures attempted to steady after a slide.