Apr 27, 12:43 AM EDT

BOJ keeps lax monetary policy, forecasts steady growth


Latest Business News
US stock indexes head lower in afternoon trading; oil rising

US rig count rises 13 this week to 870; Texas up 11

Recalls this week: child backpack carriers, infant booties

US economy expanded at weakest pace in 3 years

Time board: company not for sale; stock plunges

Latest News
Hot Switch sales boost Nintendo sales, trim quarterly loss

BOJ keeps lax monetary policy, forecasts steady growth

Coke offers its namesake drink with fiber in Japan

Japan's exports, imports surge in sign of renewed vigor

Multimedia
A district summary of the Beige Book
Measuring economic stress by county nationwide
Mall malaise: shoppers browse, but don't buy
Unemployment by the numbers
Family struggles with father's unemployment
Saying an affordable goodbye
Hard times hit small car dealer
Latest Economic News
Puerto Rico faces bank closure, privatizations amid crisis

US economy expanded at weakest pace in 3 years

Spain's economy keeps up positive run with Q1 growth

UK economy slows as Brexit weighs on consumers

Eurozone inflation rises to target as economy improves

Malaysia's leader: ASEAN seen growing to 4th-largest economy

The Latest: European Central Bank more confident on economy

BOJ keeps lax monetary policy, forecasts steady growth

South Korea's economy grows at fastest pace in 3 quarters

Germany raises 2017 growth forecast to 1.5 percent

Interactives
Greece's Debt Threatens to Spread
State budget
gaps map
Auto industry problems trickle down, punish Tennessee county
Women give old Derby hats a makeover in tough economy
S.C. town deals with highest unemployment in South
How mortgages were bundled and sold as securities
Tracking the $700 billion financial bailout
Tracking the year's job losses
State-by-state foreclosures since 2007
Credit crisis explained
Presidents and their economic legacies
Lexicon of the financial crisis
Americans' addiction to debt

TOKYO (AP) -- Japan's central bank kept its ultra-lax monetary policy unchanged Thursday, forecasting that growth in the world's third-largest economy would remain steady through the fiscal year ending in March 2018.

The Bank of Japan said demand spurred by preparations for the Tokyo 2020 Olympics will help support growth in the coming year or two.

But the central bank's statement warned of risks to that scenario from global trends, including U.S. economic policies, Britain's exit from the European Union and other geopolitical trends.

"With regard to the outlook for economic activity, risks are skewed to the downside, particularly those regarding developments in overseas economies," it said.

The Bank of Japan is pumping trillions of yen (tens of billions of dollars) into the economy each month through asset purchases intended to counter deflation and boost growth.

Results have been mixed, and inflation remains well below the 2 percent target set in 2013.

© 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our Privacy Policy and Terms of Use.