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Weak prices forcing BOJ to keep money spigot open

Japanese central bank now lone holdout amid global retreat

Bank of Japan Gov. Haruhiko Kuroda attends a news conference at the BOJ headquarters Thursday in Tokyo.   © Reuters

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.

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