TOKYO—The Bank of Japan must maintain massive monetary stimulus and its dovish policy guidance until wages show clearer signs of increasing, one of its board members said, reinforcing the central bank’s outlier status in a global wave of monetary tightening.
Board member Toyoaki Nakamura also ruled out the chance of tweaking Japan’s ultra-low interest rates to stem the yen’s falls against the dollar, saying there was not much the BOJ can do to reverse a trend largely driven by U.S. rate hikes.
