Previous research has indicated that coffee might be able to do everything from helping us live longer to making our workouts more effective; heck, according to one study, it might even help stave off dementia.
This review suggests women at risk of fractures should also cut back on coffee.
The full statement from BMJ follows below.
For some time now, the debate about whether coffee is good for you or not has raged hot and fierce: Some studies have suggested it has some incredible health benefits; others have suggested that it can be detrimental to our health instead; and still others have come out on the fence about the whole thing.
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Regular consumption of americanos, lattes or frothy cappucinos is associated with a lower risk of death and heart disease compared to not drinking the black stuff at all.
It says those who drink more than this each day run the risk anxiety, sleeplessness, heart rhythm disturbances or heart failure.
Reassuringly, harms were not apparent apart from during pregnancy when coffee drinking was linked to low birth weight, premature birth (in the first six months of pregnancy) and miscarriage.
New analysis shows the popular beverage is associated with a lower risk of death with the largest reduction in risk coming from three cups a day.
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It also cuts the risk of liver cancer by 34 per cent and bowel cancer by 17 per cent - but actually seems to increase the risk of leukaemia, lymphoma and lung cancer.
There also appeared to be beneficial associations between consumption and Parkinson's disease, depression and Alzheimer's. Drinking coffee beyond these amounts was not associated with harm, but the benefits were less pronounced.
Since the review was an analysis of existing studies, it is impossible to account for many other factors that might have influenced the subjects' health. "There is a balance of risks in life, and the benefits of moderate consumption of coffee seem to outweigh the risks".
In a linked editorial, Eliseo Guallar at the Johns Hopkins Bloomberg School of Public Health said while we can be assured coffee is generally safe, doctors should not recommend drinking it to prevent disease and people should not start for perceived health benefits.
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