Bank of Japan gloomier about inflation

tokyo (anp/bloomberg) - The Bank of Japan (BoJ) has adjusted its expectations for inflation downwards. The central bank of Japan left its interest rate policy unchanged as expected.

Japan fell slightly further behind its own inflation targets of 2 percent. The BoJ, in a week in which Europe and the United States were talking with more confidence by central bankers, lowered its expectations to 0.5 to 1 percent. The outlook had actually increased to about 1 percent in January.

The bleak gaze was reason for BoJ governor Haruhiko Kuroda not to compromise the economy's stimulus program. Interest rates remained unchanged and the 80 trillion yen buy-back program remained intact. However, Kuroda is hopeful that inflation will pick up towards the desired level.

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