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As yen slides, Japan clings to near-zero interest rates

BOJ's latest defense of ultraloose policy puts it further behind inflation-fighting curve

The yen has slumped against a broad range of currencies. (Photo by Takuya Ikeda)

TOKYO -- The Bank of Japan's latest move to defend ultralow interest rates shows its commitment to holding the line, even as it falls out of step with other big central banks and risks deepening a yen sell-off, analysts say.

With the yen weakening past 129 to the dollar for the first time in two decades Wednesday, Japan market watchers braced for a possible surprise from the BOJ: not pushing back against rising interest rates.

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