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.
Japan's government has nominated Haruhiko Kuroda for a second term as central bank governor, giving the veteran finance chief more time to battle deflation and kick-start the world's third largest economy.
Japan's stock market has continued its rally as investors are optimistic about the mid-term prospects for the global economy. The Kobe Steel data scandal no longer seems to worry traders that much.
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.
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