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BOJ lowers inflation forecast despite ultraeasy policy

2% inflation is seen beyond reach for Gov. Kuroda

TOKYO -- The Bank of Japan revised down its inflation projections for the current fiscal year to March 2022, as prices remain subdued after more than eight years of aggressive monetary easing under Gov. Haruhiko Kuroda.

Core inflation, which excludes prices of fresh food items, is projected at 0.1% for the current fiscal year, according to the median forecast of the central bank's nine policy board members. The projection was released in the BOJ's quarterly outlook report.

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