Bank of Japan Lowered Inflation Forecast
The Bank of Japan has kept its monetary policy unchanged, but reduced its inflation forecasts for the fiscal years 2017/2018 and 2018/2019. The central bank of Japan left the interest rate at the level of -0.1% and retained the program of buying assets unchanged.
The Bank of Japan forecasts that inflation in the current fiscal year will be 1.1%, compared to the previous forecast of 1.4%. For the next fiscal year, it is expected that inflation will reach 1.8% instead of 1.9%.