Why is the Bank of Japan taking this stance on interest rates?

The Bank of Japan has maintained its position despite interest rate increases by the Federal Reserve and other central banks across the world in an effort to reduce inflation.

Japan's benchmark interest rate has been negative 0.1% since 2016. The third-largest economy in the world has long struggled with deflation, or a persistent spiraling down of prices. Inflationary pressures are therefore present in Japan at the same time tha....