Japan's GDP projected to surpass expectations

Japan’s GDP projected to surpass expectations

The Central Bank of Japan (BoK) announced in its monthly report that the country's GDP (Gross Domestic Product) growth rate in this fiscal year will be probably higher than 3-3.2% forecasted in April. BoK predicts Japan's economy to gain strong momentum as soared exports and business investments supported the job market. According to the statement made by Finance Ministry, May exports recorded the fastest increase since 1995. At the same time, BoK decided not to change its monetary policy. The bank emphasized that it will continue supporting the economic recovery with an impulsive policy until deflation gives way to mild inflation.