TOKYO — The Japanese yen weakened on Thursday after the Bank of Japan lowered its economic growth forecast, pushing back market expectations for the next rate hike.
The BOJ revised down its gross domestic product outlook for the year ending in March 2026 to 0.5% growth from the previous 1.1%, according to its quarterly report. The Bank left interest rates unchanged as expected at 0.5% at the end of its two-day policy meeting on Thursday.
