Bank of Japan keeps stimulus intact, cuts inflation outlook

Japan's central bank opted Thursday to keep its lavish monetary stimulus intact while downgrading its outlook for inflation.

The Bank of Japan's policy meeting ended Thursday with no change to its injections of trillions of yen (hundreds of billions of dollars) into the economy each year through government bond purchases.

The BOJ said in a statement that it forecasts inflation at 1.1 percent in 2017, below its 2 percent target and also its earlier outlook for a 1.4 percent rise in the consumer price index.

"Inflation expectations have remained in a weakening phase," it said.

But the central bank raised its forecast for growth for the current fiscal...