The Bank of Japan trimmed its economic growth forecast but held off on offering fresh stimulus on Wednesday, anticipating a pick-up in consumption will nudge inflation toward its 2 percent target.
BOJ Governor Haruhiko Kuroda maintained his optimism the economy will emerge from a soft patch in the current quarter, helping inflation hit his target by around September next year.
While cautiously upbeat on China’s growth prospects, he urged Beijing to continue liberalizing its markets despite the recent stock turbulence.
“Unless there is a huge delay in market liberalization, China must and can engineer reforms that are in line with structural changes in its economy,” Kuroda told reporters. Read more