“Japan’s central bank cut its inflation forecast and kept its unprecedented monetary easing unchanged as tumbling oil prices handicap efforts to reflate the world’s third-biggest economy. The Bank of Japan will increase the monetary base at an annual pace of 80 trillion yen ($674 billion), it said in a statement Wednesday in Tokyo, as forecast by all 33 economists surveyed by Bloomberg News. The BOJ lowered its core inflation projection to 1 percent for the fiscal year starting in April, from 1.7 percent. Governor Haruhiko Kuroda said the drop in oil could delay inflation reaching the BOJ’s 2 percent target next fiscal year while economists see a risk of prices falling briefly this summer.”
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