The Bank of Japan on Thursday maintained its ultralow rate policy to support the pandemic-hit economy as widely expected, sticking to a dovish stance despite the yen's sharp decline in a global policy-tightening wave triggered by surging inflation.After the policy decision, the yen breached the psychologically important 145 level versus the U.S. dollar, and Governor Haruhiko Kuroda ruled out rate hikes in the near future. To stop the yen's relentless slide, Japan intervened in the currency market by buying the yen for dollars for the first time since 1998.The effect of such a unilateral act…READ FULL ARTICLE
