The Bank of Japan's monetary policy statement on Friday showed that the short-term interest rate should remain at -0.1%. The central bank kept the yield on 10-year government bonds at zero and kept the quantitative easing program at the same pace of 80 trillion yen a year.
The bank said it expected inflation to range from 0.5% to 1%, which was lower than its estimate at its last meeting when it said the CPI was moving towards 1%.
On the level of economic growth, the Japanese central bank said the economy is expanding moderately, noting that he was not troubled by the downturn in the first quarter of 2018.
Economic growth in the world's third-largest economy fell 0.6 percent from January to March year-on-year, versus 0.6 percent growth in the fourth quarter of last year.
By 5:30 am GMT, the yen was down 0.2 percent at 110.83 yen.
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