BOJ chief stays course on ultralow rate policy despite sharp yen drop


Bank of Japan Governor Haruhiko Kuroda said Saturday that monetary easing is still needed for Japan to ensure wage growth and achieve its 2 percent inflation target stably and sustainably. Kuroda again signaled that the BOJ would remain an outlier among major central banks, which have begun to raise interest rates to fight inflation. The yen has plunged to a 32-year low versus the U.S. dollar as financial markets price in that policy divergence. His remarks at an event in Washington contrasted sharply with those of his British counterpart Andrew Bailey, who indicated that a bigger interest rat...

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