Bank of Japan Refrains From Adding Stimulus Even as It Cuts Price Outlook
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The Bank of Japan refrained from boosting monetary stimulus even as it pushed back its forecast for reaching a 2 percent inflation target, ascribing the delay to the tumble in oil prices.
The central bank kept a plan to expand the monetary base at an 80 trillion yen ($673 billion) annual pace, as forecast by most economists. The BOJ cut its growth and price estimates for the fiscal year through March, now envisioning hitting the inflation goal around the April-to-September period of 2016.