BoJ pushes back forecast of 2% inflation
Central bank admits it will take longer than previously expected to hit 2%
The Bank of Japan (BoJ) conceded today (November 1) it will likely not be able to hit its inflation target as soon as previously thought, as its policy board voted to keep the interest rate and quantitative easing on hold.
Alongside the policy decision, the BoJ released its quarterly projections for economic activity and prices. The central bank had expected to hit its target at some point in fiscal 2017 (April 2017–March 2018), but now expects inflation will not reach 2% until towards the end
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