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BOJ stands pat but downgrades view of output and exports

Governor Kuroda expects deceleration to be short-lived, however

Japan's economy is losing steam despite ultraloose monetary policy under Bank of Japan Gov. Haruhiko Kuroda over the past six years. (Photo by Nozomu Ogawa)

TOKYO -- The Bank of Japan kept its monetary policy unchanged on Friday, as its counterparts in the U.S. and Europe signal shifts in their policies amid signs of spreading economic deceleration around the world.

"The Chinese economy is decelerating," Gov. Haruhiko Kuroda said in a news conference. But "stimulus steps are already being taken by the government. Their effects will show up in due course. Many believe that will be in the latter half of this year," he added. 

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