Bank of Japan keeps easing despite global rate hikes
The Bank of Japan on Friday stuck to its monetary easing policy even as other central banks raise interest rates to tame inflation, but said it would "pay due attention" to forex markets after the yen hit a 24-year low.
The bank will hold rates at minus 0.1 per cent and continue buying unlimited government bonds to maintain a low cap on long-term yields -- part of a decade-old plan to boost the world's third-largest economy.
The decision, announced after a two-day policy meeting, bucks a global monetary tightening trend aimed at battling sky-high fuel and food prices caused by the Ukraine war and supply chain snarls.
Rate hikes have been led by the US Federal Reserve, which this week announced its most aggressive increase in nearly 30 years and signalled more were in the pipeline.
Comments