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BOJ raises price forecast, keeps policy steady

TOKYO : The Bank of Japan on Tuesday raised its inflation forecast for the fiscal 12 months starting in April and stated dangers to the price outlook have been evenly balanced, nodding to current indicators the commodity-driven rise in inflation was broadening.

As extensively anticipated, the central financial institution saved unchanged its -0.1per cent goal for short-term rates of interest and a pledge to information 10-year authorities bond yields round zero.

“Risks to prices are generally balanced,” the BOJ stated in a quarterly report launched on Tuesday, including there was a threat that rising uncooked materials prices may prod corporations to move on increased prices to shoppers at a sooner tempo than anticipated.

(Reporting by Leika Kihara, Tetsushi Kajimoto, Daniel Leussink and Kantaro Komiya; Editing by Chang-Ran Kim)

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