“Japan’s central bank cut its economic growth forecast for the country in half.
The Bank of Japan on Thursday lowered its expectations for 2025 gross domestic product growth to an anemic 0.5%, down from the previous projection of +1.1%, made in January. It also cut its growth forecast for next year to 0.7%, down from the previous projection of +1.0%.
“Japan’s economic growth is likely to moderate, as trade and other policies in each jurisdiction lead to a slowdown in overseas economies and to a decline in domestic corporate profits and other factors,” Japan’s central bank said in a statement.
The bank noted, however, that the on-again, off-again trade war has clouded its outlook.”