Sunday, August 30, 2015   

BOJ cuts GDP forecast
(07-15 17:47)

The Bank of Japan (BOJ) on Tuesday lowered its forecast of the country's real gross domestic product (GDP) growth rate for fiscal 2014 to 1.0 percent, mainly due to the impact of the tax hike since April 1, local media reported.
The central bank slightly cut the economic growth forecast from 1.1 percent projected three months ago as export remain weak and household spending tumbled more than expected after the sales tax hike.
But it left unchanged its growth projections for fiscal 2015 and 2016, which log 1.5 percent rise and 1.3 percent rise respectively, as the BOJ believed that the effect of tax hike would be temporary.
In a statement released after a two-day meeting that ended Tuesday, the BOJ's Policy Board also said the country's economy remains on a recovery track under the aggressive monetary easing policy, maintaining its basic assessment for the 10th straight month.
The nine-member board headed by Governor Haruhiko Kuroda voted unanimously to maintain the bank's ultra-loose monetary policy aimed at achieving a 2 percent inflation goal in or around fiscal 2015. --Xinhua   
Other Business breaking news:
Greece swears in caretaker cabinet (08-28 23:00)
US stocks lower at the open (08-28 21:45)
UBS pays penalty for disregarding bans on a terrorist’s deals (08-28 21:20)
US personal incomes and spending rise at modest rate (08-28 21:03)
Oil prices drop to US$42.35 (08-28 20:50)
Bank of China and AgBank report marginal earnings growth (08-28 19:25)
UK reports 0.7pc second quarter growth (08-28 18:31)
Shanghai stocks rally 4.8pc at close, Hang Seng gives up gains (08-28 16:25)
Dow leaps 200 points at open (08-27 22:34)
US reports broad-based 3.7pc growth sparked by consumer spending and business investment (08-27 22:05)

More breaking news >>

© 2015 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts

 


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2015, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.