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 in Tokyo today, as forecast by all 33 economists surveyed by Bloomberg News. The BOJ cut its inflation projection to 1 percent for the fiscal year starting in April and raised its growth estimate for the period to 2.1 percent. The risk of consumer prices falling briefly this year as oil slumps highlights the challenge that … (full story)