Japan's central bank cuts 2026 growth to 0.5 pct

The Bank of Japan (BOJ) slashed Japan's economic growth forecast for fiscal year 2026 to 0.5 percent, half of the 1.0 percent projection it made in January, according to its latest Economic and Price Outlook report released on Tuesday.

At the same time, the central bank raised its core consumer price index (CPI) inflation forecast, excluding fresh food, for fiscal year 2026 from 1.9 to 2.8 percent.

The BOJ also announced the same day that it would keep its policy rate unchanged at around 0.75 percent.

The decision came as the bank noted that escalating tensions in the Middle East have driven up international oil prices, and the impact on Japan's economy still requires further monitoring.

Brazil will expand cultural exchanges with China during the China‑Brazil Year of Culture, with creative industries set to play a central role, said Culture Minister Margareth Menezes in an interview.

In an exclusive interview with China Global Television Network (CGTN), Menezes highlighted the creative economy as a priority for Brazil’s government, highlighting the pivotal role of arts in promoting bilateral ties.

Once a singer for nearly four decades, Menezes took Brazilian music and culture to audiences around the world, including a performance in 2016 in China's Macao Special Administrative Region (SAR).

Recalling her visit to China with Brazilian President Luiz Inacio Lula da Silva in 2023, she said the trip has precisely expanded the possibilities for bilateral exchanges and collaboration.

China has broad experience with creative economy, a field that the Brazilian government is working to promote, the minister said.

"We are working a lot. This aspect of the creative economy is one of the themes we are addressing. And China has a very, very broad experience in this. So, these cooperation agreements aim to do business, to bring Chinese assets to Brazil. And in this aspect, since the beginning of our administration, we have been making investments to expand this even further -- bringing this vision and encouraging Brazilian society to understand that we are dealing with a creative industry," she said.

Brazil’s cultural and ethnic diversity is one of its greatest assets, playing a key role in taking the country’s culture abroad, the official said.

"This is one of our main actions -- to promote this cultural diversity that Brazil has, seeing it as a fundamental point of the identity of everything we do. Brazil surprises internationally because of its cultural diversity and, because of that, we can mention, for example, audiovisual. For the first time, we are managing to place Brazilian audiovisual in a broader window. And this agreement with China also expands the visibility of Brazilian culture in Asia. So, there are several aspects where we work on the potential of Brazilian diversity as a soft power," the minister said.

Menezes believes Brazil is opening new space for Black and Indigenous voices in culture and governance, marking an unprecedented level of empowerment in the country’s history.

"I think it's important because, for the first time in the country's history, we are managing that black people, people from indigenous backgrounds, can reach these spaces. When you privilege only one part of the population, you reduce the field of ideas -- you reduce creative potential. I am here representing not only my own group. I will complete 40 years of my career next year, I have an internationally recognized career, and that allows me to dialogue with this vision and understand the strength that Brazilian culture has," said the minister.