STORY: The doves are still firmly in charge at the Bank of Japan.

On Friday (September 22), policymakers said they would keep rates ultra-low, and keep supporting the economy.

That makes the BoJ ever more of an outlier among major central banks, most of which have signaled they will keep rates high to crush inflation.

Governor Kazuo Ueda is still biding his time:

“The Bank of Japan will continue to tenaciously carry out monetary easing while responding flexibly to economic, price and financial conditions amid a high level of uncertainty surrounding the domestic and overseas economies and financial markets. Our policy is to aim to achieve the 2% price stability target in a sustained and stable manner in tandem with wage increases.”

Data out Friday actually showed price rises well above that level in August, at 3.1%.

That leaves markets hunting for clues to when Ueda will feel it’s safe to make a move.

Friday’s rate decision hit Japan’s already battered yen.

At one point it sank past 148 to the dollar.

Many traders think 150 is the point at which officials will step in to prop up the sinking currency.

Growing prospects for sustained high rates in the U.S. mean the yen remains under heavy pressure.

A recent Reuters poll showed most economists expect Japan to exit from negative interest rates some time next year.