BOJ likely reaffirm commitment to ultralow rates, weaker yen in focus

The Bank of Japan is widely expected to maintain ultralow rates at the end of its two-day policy meeting from Thursday, even as its yen-weakening effect and surging import costs have come under greater scrutiny.The Japanese central bank has been going against the policy-tightening trend in major economies. It maintains that the recent bout of inflation, driven by higher commodity prices, will not last, and its 2 percent inflation target can only be achieved stably with more robust wage growth.The BOJ will likely make no change to its yield curve control program, under which it sets short-te…READ FULL ARTICLE