BOJ raises inflation forecasts, maintains ultra-easy policy

TOKYO: The Bank of Japan upgraded its inflation forecasts on Tuesday and said risks to the price outlook were evenly balanced, in a nod to signs the recent commodity-driven rise in inflation was broadening.

But with inflation set to remain below its 2% target in the coming years, the BOJ stressed its resolve to maintain its ultra-loose monetary policy even as its global counterparts move toward exiting from crisis-mode policies.