Ueda vows to 'set monetary policy like other normal central banks'
BOJ GovernorKazuoUedaspeaks at a news conference at the bank'sheadquarters in Tokyo on March 19. (Photo by Mayumi Tsumita)
MITSURU OBE, Nikkei Asia chief business news correspondent | Japan
TOKYO -- The Bank of Japan on Tuesday conducted a sweeping policy overhaul, scrapping its negative interest rate policy as it bets that Asia's second-largest economy is now emerging from a protracted period of disinflation.
The BOJ's policies have stood in contrast to other central banks, which have raised rates sharply over the past two years to combat inflation sparked by the COVID pandemic, the Ukraine war and supply chain issues.
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