The Bank of Japan (BoJ) kept monetary policy steady on Thursday even as sluggish global growth and anaemic inflation put policymakers under pressure to do more to reflate the economy out of stagnation, bolstering the yen and battering Tokyo stocks.
While the central bank maintained its optimistic view of the economy, it cut its view on consumer inflation to say prices were likely to fall slightly year-on-year or hover around flat for the time being.
The yen rose more than 1% against the dollar to hit a 20-month high, while the Nikkei stock average fell 2% after the BoJ's decision.
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While the central bank maintained its optimistic view of the economy, it cut its view on consumer inflation to say prices were likely to fall slightly year-on-year or hover around flat for the time being.
The yen rose more than 1% against the dollar to hit a 20-month high, while the Nikkei stock average fell 2% after the BoJ's decision.
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