Japan cuts growth outlook to 1.5%

File photo: The Bank of Japan (BOJ) headquarters in Tokyo.

File photo: The Bank of Japan (BOJ) headquarters in Tokyo.

Published Oct 30, 2012

Share

The Bank of Japan Tuesday downgraded the nation's economic growth forecast for the current financial year through March to 1.5 per cent from 2.2 per cent it had projected three months ago.

The central bank also trimmed the growth outlook for the next financial year through March 2014 to 1.6 per cent from 1.7 per cent it had estimated in July.

The bank lowered its forecast for the nation's consumer price index for this financial year to minus 0.1 per cent from the previous year after predicting 0.2-per-cent growth three months ago.

Falling prices have plagued Japan for more than a decade. -Sapa-dpa

Related Topics: