As had been widely expected, the BOJ raised its growth projections for the first time in a year, thanks to Japanese Prime Minister Shinzo Abe’s US$120 billion economic package, unveiled last month. The central bank said that while overseas risks to the economy remained significant, they had decreased somewhat. It said it would not hesitate to take additional easing action if risks increased. The BOJ’s upgraded growth forecast positions it between the view of private economists and the more optimistic 1.4 percent projection of the government. Still, economists cast doubt on how growth can strengthen while prices weaken.

Source: Taipei Times January 21, 2020 15:56 UTC