Allowing rates to move into positive territory would probably be "the last thing" the Bank of Japan will do, said Nomura’s Asset Management CIO

Japan’s central bank will remain an outlier, its governor pledged, and will continue with its dovish approach despite price pressures

The BoJ’s new chief Kazuo Ueda has already reassured markets that any change won't happen quickly following last month’s banking turmoil

The country’s Ministry of Finance confirmed the record stealth interventions to support the yen took place over three days last October

The global lender had only last year suggested the central bank maintain its ultra-loose policy to support Japan's recovery from the Covid-19 pandemic

Japan is to spend $24bn on support measures as inflation soars in the world’s No3 economy, while the yen’s plunge also has Tokyo worried

The nationwide core consumer price index (CPI), which excludes volatile fresh food costs but includes those of energy, rose 2.2% in June from a year earlier

Haruhiko Kuroda, governor of the Bank of Japan, said the country's 15-year experience with deflation is keeping wage growth subdued.

The core consumer price index, which includes oil products but excludes fresh food prices, compared with economists' median estimate for a 2.1% annual gain

While one board member said a weak yen benefitted the economy given the global downturn, others were worried about excessive currency volatility

The dollar index, which measures the currency against the yen, euro and four other peers, was flat at 104.70, below the 105.79 high from Wednesday, a level not seen since late 2002.

The yen has hit 24-year lows - beyond 135 to the dollar - this week and rising bond yields have pressured the Bank of Japan yield curve control