The Bank of Japan on Thursday maintained its ultralow rate policy to support the nation's budding economic recovery, bucking the global trend of monetary tightening despite the prospect that inflation will reach its 2 percent target this year and the yen may weaken further.Governor Haruhiko Kuroda said that in order for inflation to become stable and sustainable, further wage growth is needed through monetary easing. Raising interest rates is not an option and will do little to stop the weakness of the yen, he added.In a quarterly outlook report released after a two-day policy meeting, the …READ FULL ARTICLE
