Yen, Japan equities rise as Japan cuts growth forecast

Japan's benchmark Nikkei stock index ended 0.78% higherJapan’s central bank on Friday slashed its growth forecasts and put back an inflation timetable as the country’s economy stutters, but its decision to hold off any fresh stimulus sent the yen up and Tokyo stocks rallying. Economists had come to a broad consensus the Bank of Japan would lower its expectations for the world’s number three economy following a string of weak data, including on trade, manufacturing and investment. The decision not to further loosen monetary policy came after the European Central Bank indicated it could ramp up its own programme in December while China last week slashed interest rates for a sixth time in a year.

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