The Bank of Japan kept its stimulus policies unchanged while lowering its inflation forecast, underscoring that any exit from its unprecedented monetary easing remains far away.
The BOJ made a small increase to its growth forecasts for this fiscal year and next. In its quarterly outlook report, the BOJ cut its inflation projection for the fiscal year that started this month to 1.4% from 1.5%.
While growth forecast for fiscal 2017: 1.6% (previous 1.5%), growth forecast for fiscal 2018: 1.3% (previous 1.1%). While global demand is supporting exports and contributing to modest economic growth, four years of extraordinary monetary stimulus is generating only the smallest of increases in prices.
Source: Ministry of Economy
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