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Economy

BOJ moves to ward off downturn by maintaining easy money policy

Central bank forecasts higher inflation as Gov. Kuroda stresses downside risks

With the Bank of Japan caught between a weak yen and the prospect of a worsening global economy, Gov. Haruhiko Kuroda highlighted downside risks while speaking to reporters on Oct. 28. (Pool photo) 

TOKYO -- The Bank of Japan decided to maintain its ultraloose monetary policy on Friday as Gov. Haruhiko Kuroda highlighted downside risks to the economy and indicated his willingness to accept a weaker yen.

The BOJ released inflation projections, with the mean projection rising to 2.9% from 2.3% for fiscal 2022, and to 1.6% from 1.4% for fiscal 2023, in a sign that price increases are becoming more widespread than policy board members had anticipated. Fiscal years end in March.

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