Japan is likely to enjoy a modest surge of growth as the strength of overseas economies and the weak yen contribute to a brighter outlook, the Bank of Japan (BoJ) said today (January 31).

The central bank's policy board voted to hold the policy rate at –0.1% and continue quantitative easing to keep 10-year government bond yields around zero. The latest economic outlook document, published alongside the decision, said growth forecasts had been revised up, though the expected path for inflation