BOJ maintains ultra-low rates, warns against sharp yen falls

Published by
Reuters

By Leika Kihara and Daniel Leussink TOKYO (Reuters) -The Bank of Japan maintained ultra-low interest rates on Friday and its guidance to keep borrowing costs at “present or lower” levels, signaling its resolve to focus on supporting the economy’s tepid recovery from the COVID-19 pandemic. The decision to stand pat was widely expected, and highlighted the BOJ’s position as the world’s last dovish central bank, as its global peers aggressively raise interest rates to curb surging inflation. However, in a nod to the hit that the yen’s recent sharp declines may have on the economy, the BOJ said it…

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