Kuroda’s BOJ Set to Become World’s Last Negative Rate Holdout

The Bank of Japan’s outlier status is set to become even more acute this week with central banks from the Federal Reserve to the Swiss National Bank expected to raise borrowing costs, Bloomberg News reported. Bank of Japan Governor Haruhiko Kuroda and his fellow board members are seen standing pat at the end of a two-day meeting Thursday that comes just hours after the Fed unleashes what’s likely to be a third-straight interest rate hike of 75 basis points. With the BOJ likely to be clinging to the world’s only negative policy rate, its dovish stance may send the embattled yen sliding again. Authorities in Tokyo ramped up their warnings against the rapid yen moves after it flirted with 24-year-lows against the dollar last week. The country’s finance minister indicated that direct intervention is among the options on the table and, if needed, it will come swiftly and without warning. Read more.