BoJ more optimistic on growth, deflation

bank-of-japan

Senior Bank of Japan officials on Tuesday presented a relatively buoyant set of predictions on the health of the country's economy.

The central bank's Policy Board said they now expected a less severe contraction for 2009 and for deflation to be less of a concern than previously thought.

The board members predicted on average that the economy would shrink by 2.5% in the year to April 2010 after forecasting a 3.2% contraction in October on the back of a pick up from "various policy measures taken

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