Bank of Japan raises economic growth forecasts ahead of snap election, holds rates at 0.75%

A guide sign reading "Bank of Japan" is seen in Tokyo on July 31, 2024.Japan's central bank on Friday raised economic growth forecasts while holding its key policy rate at 0.75% as the country prepares to go into an election. The Bank of Japan upgraded its economic growth forecast for the fiscal year ending in March 2026 to 0.9% from 0.7% in October 2025, and also raised its GDP expansion outlook for the 2026 fiscal year to 1% from 0.7%. The central bank expects Japan's GDP to grow moderately as other count ...