BoJ cuts inflation estimate as it holds rates

The Bank of Japan
The Bank of Japan again chose to make no changes to its current ultra-loose policy setting

The Bank of Japan’s monetary policy committee has cut its estimate of current inflation, as it again held its monetary policy today (June 15).

The BoJ said the year-on-year consumer price index for all items except fresh food was increasing “in the range of 0.5–1.0%”, in a statement released after the two-day policy meeting ended. Its previous monetary policy statement, issued in April, said year-on-year CPI inflation was rising by “around 1%”.

The MPC voted by eight to one to keep the short-t

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