Standard & Poor's has cut the nation's long-term credit rating one level to A+, saying it sees little chance of the government's current strategy accelerating growth and inflation over the next few years.
The downgrade, announced Wednesday, came just a day after the Bank of Japan refrained from boosting record asset purchases, betting there will be a resumption in growth and inflation.
That has left the onus on Prime Minister Shinzo Abe and his Cabinet to consider a fiscal stimulus package to boost what evidence indicates is a lackluster recovery in the second half of the year so far.
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