Japan government cuts economic growth forecast for the current fiscal year

<ul><li>Growth forecast for FY2023/24 seen at 1.3% (previously 1.5% in January)</li><li>Growth forecast for FY2024/25 seen at 1.2%</li><li>Inflation forecast for FY 2023/24 seen at 2.6% (previously 1.7%)</li><li>Inflation forecast for FY 2024/25 seen at 1.9%</li></ul><p>That's a big bump to the inflation forecast and the timing is something to be wary about. This projection comes just a week before the next BOJ policy meeting, although Ueda did brush aside chances of a near-term policy shift earlier this week.</p>

This article was written by Justin Low at www.forexlive.com.