Bank of Japan keeps easing despite global rate hikes

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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 percent 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.—AFP