The Wall Street Journal: Bank of Japan leaves monetary policy alone, pushes back inflation goals

TOKYO — The Bank of Japan pushed back its forecast for reaching 2% inflation for a sixth time under the leadership of Haruhiko Kuroda while keeping its policy settings on hold, further highlighting Japan’s struggle to achieve stable price growth.

The central bank now expects inflation to reach around 2% in the year ending March 2020, a year later than its previous projection.

In a quarterly outlook report, the bank’s policy board said core consumer prices excluding fresh food would likely rise 1.1% in the year ending March 2018, compared with a 1.4% increase forecast in April. The bank also lowered its projection for the following year to 1.5% from the previous 1.7%.

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