TOKYO -- The Bank of Japan finds itself in the unenviable position of pursuing a lonely crusade against deflation as American and European peers move to exit from their massive easing campaigns.
Not only is the Japanese easy-money policy staying in place, but BOJ Gov. Haruhiko Kuroda has also promised even more easing "if necessary." The divergent path signaled by the BOJ prompted yen-selling and sent stocks higher here Thursday.
