The Bank of Japan said Friday it would maintain its long-standing, ultra-loose monetary policy as it looks to boost economic growth. ManilaBulletin
The central bank has gone against the grain as its global peers hike interest rates to tackle inflation, pushing down the value of the yen against the dollar.
The announcement prompted the Japanese currency to sink to around 140.73 yen per dollar, from around 140.20 yen earlier. "Given uncertainty about price increases next year, the BoJ will stay vigilant and avoid making hasty changes to the policy in the foreseeable future."
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