The Bank of Japan in the meeting on Wednesday maintained ultra-low interest rates at -0.10%, including its 0.5% cap for the 10-year bond yield, which failed market expectations that the central bank would phase out its massive stimulus programme in the wake of rising inflationary pressure.
Japan’s core consumer price index (CPI), which excludes volatile energy and food prices, rose 3.7% in November from a year earlier. It was the highest in 40 year since a 4.0% jump seen in December 1981.
