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Can the Bank of Japan win the battle to keep interest rates low?

Central bank betting high resource prices, not low yen, mostly causing inflation

Bank of Japan Gov. Haruhiko Kuroda looks to prevent rampant speculation every time the bank engages in fixed-rate bond-buying operations.

TOKYO -- It was a dramatic day on the currency market in Japan.

On Thursday, the Bank of Japan's policy board decided to maintain its accommodative monetary stance to support the economy despite growing concern about inflation sparked by a weak yen. In response, the yen fell to the 131 level against the dollar for the first time in 20 years.

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