Society | Nov 01

BOJ lowers inflation forecast

Nov 01 (NHK) - The Bank of Japan has downgraded its inflation forecast for the current fiscal year through March.

Officials on Tuesday published the central bank's latest report on the outlook for the economy and prices.

They now expect the inflation forecast to be 0.8 percent. The previous prediction was 1.1 percent.

The officials say the pace of inflation is sluggish despite the bank's massive easing measures.

But policymakers at the BOJ say they are still on course to hit a 2-percent inflation target by around fiscal 2019.

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