What's up with the Bank of Japan's unique track? MintGenie explains
- Since 2016, Japan's key interest rate has been minus 0.1%. The world’s third-largest economy has been battling deflation, or a continuous downward spiraling of prices, for years. So, at a time when surging prices prevail in much of the world, Japan also is facing inflationary pressures, but on a much more modest scale.
Signage with a map outside the Bank of Japan (BOJ) headquarters in Tokyo, Japan, on Wednesday, Oct. 26, 2022. Bank of Japan Governor�Haruhiko Kuroda�appears as determined as ever to see out his inflation mission without buckling to market or political pressure. Photographer: Noriko Hayashi/Bloomberg