Japan has always been an exceptional nation. Its response to the global inflation wave is no different.
As central banks across the western world have tightened monetary policy, the Bank of Japan has stood alone, insisting that its extraordinarily loose policy settings will remain in place. In June, BOJ Gov. Haruhiko Kuroda reiterated that his yield-curve control policy, which caps the yield on 10-year Japanese government bonds at 0.25%, would remain in place.
