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Bank of Japan raises economic forecasts

  • The Bank of Japan (BoJ) on Sunday raised its forecast for both economic growth and inflation this year in its biannual report.

    According to the BoJ, the economy is set to grow by 2.9 percent for the year from March to March, up from its previous forecast of 2.3 percent.

    Its forecast for inflation was lifted to 0.7 percent from 0.4 percent.

    The announcement comes after the BoJ issued a series of stimulus measures earlier this month in a bid to lift the country out of a decades long economic slump.

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    Tagged as: Japan news, Bank of Japan, economic, business news