Tokyo trims growth outlook for fiscal 2015

It says GDP will rise 1.7 per cent instead of 2 per cent; consumer price inflation will be 1.9 per cent, not 2 per cent

Published Wed, Jul 15, 2015 · 09:50 PM

Tokyo

THE Bank of Japan (BOJ) on Wednesday revised down slightly its forecast for the country's economic growth for fiscal 2015, in the light of global developments such as the temporary slowing of the US economy, the ongoing slowdown in China and uncertainties caused by the Greek debt crisis.

After the regular monthly meeting of its Policy Board, the BOJ issued a statement announcing that Japan's real gross domestic product (GDP) is forecast to rise by 1.7 per cent in fiscal 2015 (ending in March 2016), rather than by the 2 per cent forecast by the bank in April this year.

The BOJ also revi…