TOKYO : The Bank of Japan is likely to keep interest rates ultra-low on Friday, unfazed by a relentless fall in the yen that is boosting import costs and shows little sign of abating while other central banks around the world withdraw monetary stimulus.
He was forced to retract that comment, and backtracked on Monday from his long-held view that a weak yen was good for the economy. The BOJ is caught in a fresh conundrum. While core consumer inflation exceeded its 2 per cent target in April for the first time in seven years, the rise is driven mostly by fuel and food costs.
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