BOJ sticks to ultralow rates despite fast-paced inflation, weak yen

The Bank of Japan on Friday maintained its ultralow interest rates as widely expected, swimming against a global trend of monetary tightening, as it attempts to navigate what it sees as a temporary cost of living crisis amid higher commodity prices and a weak yen.Reflecting the impact of rising import costs of energy, raw materials and other goods, the BOJ revised upward its core consumer inflation outlook for the current fiscal year to next March to 2.9 percent from its earlier projection of 2.3 percent. It would be the fastest pace of increase in 41 years on a fiscal year basis.At the end…READ FULL ARTICLE