Economics

BOJ Leaves Stimulus Unchanged, Cuts Inflation Outlook Again

Central bank lifts growth forecast, sees more downside risks
Price downgrade excludes likely drops in phone, school costs

Kazuo Momma, former assistant governor at the BOJ, talks about the central bank’s policy and the economy.(Source: Bloomberg)

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By Toru Fujioka and Masahiro Hidaka

January 23, 2019 at 3:05 AM UTC

Updated on

January 23, 2019 at 2:51 PM UTC

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The Bank of Japan left monetary policy unchanged as it cut its inflation outlook once again, underscoring how far away its price target is and how few options the central bank has for drawing closer.

The BOJ maintained its yield curve-control program and asset purchases, it said in a statement Wednesday, a result predicted by all but one of 50 economists surveyed by Bloomberg. The bank lowered its inflation forecast for a fourth consecutive time in its quarterly outlook report.