Bank of Japan Cuts Price Forecast, Maintains Record Stimulus
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Japan’s central bank cut its inflation forecast and kept its unprecedented monetary easing unchanged as tumbling oil prices handicap efforts to reflate the world’s third-biggest economy.
The Bank of Japan will increase the monetary base at an annual pace of 80 trillion yen ($674 billion), it said in a statement Wednesday in Tokyo, as forecast by all 33 economists surveyed by Bloomberg News. The BOJ lowered its core inflation projection to 1 percent for the fiscal year starting in April, from 1.7 percent.