As Federal Reserve raises rates, Bank of Japan stays put

BUSINESS DAILY © FRANCE 24

Many central banks around the world are following the lead of the US Federal Reserve and raising their benchmark interest rates in order to rein in inflation. The Bank of Japan, however, is marching to the beat of its own drum. At a policy meeting this Thursday, the bank maintained its ultra-loose monetary policy in a bid to spur more internal demand. Meanwhile, the yen and many other currencies continue to fall against the dollar.