The BOJ said it expects inflation to be consistent with its 2% goal around the second half of its outlook period, which was extended by a year to include fiscal 2027. The bank halved its economic growth projection to 0.5% for this fiscal year in a sign of heightened caution following the US levies and countermeasures by others.
The Bank of Japan pushed back the timing for when it expects to reach its inflation target and slashed its growth forecasts as the global trade war initiated by Donald Trump darkens the economic outlook.
Governor Kazuo Ueda's board voted unanimously to maintain the central bank's policy rate at 0.5% at the end of the two-day gathering, according to a statement, as expected by all 54 economists surveyed by Bloomberg.
