Why did the Bank of Japan freeze interest rates?

According to this article published by MoneyWeek on Monday 22 January, the Bank of Japan's decision last week to hold interest rates steady has unleashed a storm relating to its independence from political pressure.

While the Financial Times also picked up on the story that the central bank was likely to raise rates, back in Japan there was political talk that the Bank of Japan would be held accountable for any policy errors and this could include a change in the law to clip the BoJ's

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