Japan sticks to rock-bottom interest rates at the expense of the yen

BOJ Kuroda

TOKYO: Bank of Japan (BoJ) governor Haruhiko Kuroda (pic) emphasised his determination to stick with rock-bottom interest rates even if it means a weaker yen after the bank’s latest price forecasts left the door open to continued speculation over policy change.

Following the central bank’s decision to stand pat earlier in the day, the BoJ looks set to become the last holdout on rates among major developed economies, assuming the European Central Bank goes ahead with its first hike in more than a decade, as is widely expected.