BoJ lifts growth forecasts on global outlook, weak yen

The Bank of Japan on Tuesday upgraded its economic growth forecasts for the current fiscal year and the next two, while leaving its ultra-loose monetary policy intact. The central bank now expects the world's third-largest economy to expand 1.4 percent in the year to March and 1.5 percent over the following 12 months. "The projected growth rates are somewhat higher, mainly reflecting improvement in overseas economies and the yen's depreciation," the bank said in a quarterly outlook.