TOKYO -- The Bank of Japan's negative interest-rate strategy is clearly designed to keep the yen from strengthening.
That is obvious from the deft verbal maneuvering by BOJ Gov. Haruhiko Kuroda, who apparently had decided to unleash the unorthodox policy, in Davos last month. At a Jan. 23 symposium on the global economic outlook, Kuroda laid out the option of China controlling capital outflows, framing the idea as his personal view.
