Oct. 25 (Bloomberg) -- Bank of Japan board members will probably cut their forecast for the nation’s economic growth this fiscal year and next when they meet this week, according to a survey of economists.
The officials will likely cut their expansion forecast for the year starting April 2012 to between 2.1 percent and 2.4 percent from July’s estimate of 2.9 percent, according to six economists surveyed by Bloomberg News. For the current fiscal year, the central bank may reduce its growth projection to 0.2 percent from 0.4 percent, four of the six economists predicted.
Bank of Japan Governor Masaaki Shirakawa said on Oct. 21 that “downside risks” to the nation’s economy need to be monitored with the global economy decelerating and the yen under pressure to strengthen. The BOJ’s board will hold a one-day meeting on Oct. 27.
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