At the end of the April meeting, the Bank of Japan announced its intention to keep the rate “extremely low” at least until spring of 2020. The bank first indicated the date until which this level would be maintained. The Japanese regulator left unchanged all key parameters of its monetary policy. It came to this decision because of the uncertainty regarding economic activity and prices, and also taking into account the consequences of the expected increase in the consumption tax. The Central Bank expects in the fiscal year, which will end in March 2022, acceleration of consumer price growth, excluding fresh food, to 1.6%, while its inflation target is 2%. The forecast of the Bank of Japan for the fiscal year ending in March 2022 implies a 1.2% GDP growth in Japan.
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