TOKYO: The Bank of Japan is set to keep ultra-low interest rates on Friday but may make minor tweaks to extend the lifespan of its yield control policy, which is facing scrutiny amid prospects of sustained inflation.
While inflation has held above the BOJ's 2 per cent target for more than a year, Governor Kazuo Ueda has vowed to keep ultra-loose policy until he is more convinced the economy can weather global headwinds and allow firms to keep hiking wages next year. With wages and inflation on the rise, markets have been rife with speculation Ueda will soon phase out the radical stimulus programme of his predecessor.
Any tweak to YCC could help prevent further declines in the yen, which would hurt households and retailers by pushing up the cost of food and fuel imports.
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