Japan will bounce back: central bank

Growth is sluggish and inflation at its highest level since the early 1990s, but the Japanese economy remains on course to recover, the country's central bank said.

The Bank of Japan acknowledged the growth picture had worsened, saying that it was "sluggish against the backdrop of high energy and materials prices, and weaker growth in exports". It said in July that growth was "slowing further".

Growth would "likely remain sluggish for the time being", but the central bank said it was "expecte

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