As expected, the Bank of Japan left its policy rate unchanged at 0.1%, but raised the tone of...

|By:, SA News Editor
As expected, the Bank of Japan left its policy rate unchanged at 0.1%, but raised the tone of its rhetoric against deflation, saying it won't tolerate on-year falls in consumer prices. "The bank recognizes that it is a critical challenge for Japan's economy to overcome deflation and return to a sustainable growth path with price stability," it said, but didn't clarify what measures it might take if prices fall further.