The Bank of Japan has cut its current growth outlook to 1.2 percent. The central bank also says it will miss its 2 percent inflation target next year. Despite this, BoJ says its keeping its policy the same, surprising experts.
The Bank of Japan has apologized for a 'misunderstanding' after a board member praised Hitler's economic policies. The policy maker has said he had no intention to justify the Nazi leader's policies.
The BOJ has announced an overhaul to its monetary policy in hopes of shoring up its sputtering economy. The new strategy sidelines years of loose monetary policy, which did little to pull the country out of its funk.
Japan's central bank has come up with a more optimistic assessment of growth prospects in the world's third-largest economy. It said a weaker national currency would boost Japanese exports and increase production.
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