Tokyo, Muharram 17, 1437, Oct 30, 2015, SPA -- The Bank of Japan cut its inflation outlook for this year, as the country is tacking more than a decade of deflationary pressure, and amid currently plunging global energy prices, dpa reported. The central bank said it expects the consumer price index to inch up just 0.1 per cent for the financial year to the end of March 2016, down sharply from the 0.7 per cent predicted three months ago, and far below the 2-per-cent target it set in April 2013. The bank said the inflation rate would likely rise 1.4 per cent in the next financial year through March 2017, down from 1.9 per cent estimated in July. The bank also expects the world's third-largest economy will expand 1.2 per cent in the current financial year and 1.4 per cent in the next financial year, revised down from July estimates of 1.7-per-cent growth and 1.5-per-cent expansion, respectively. --SPA 10:22 LOCAL TIME 07:22 GMT www.spa.gov.sa/w