BOJ raises interest rates to 31-year high in widely expected move
TOKYO: The Bank of Japan raised interest rates to a 31-year high of 1.25% on Friday in a widely expected move to forestall risks of inflation overshooting its 2% inflation target. At a two-day policy meeting that ended on Friday, the board decided by a 7-2 vote to raise its policy rate from 1%. Board member Toichiro Asada and Ayano Sato dissented to the decision. BOE holds rate, warns of hike if…
The Bank of Japan has raised interest rates to 1.25%, a 31-year high. This move was widely expected and aims to prevent inflation from exceeding the 2% target.
The decision was made with a 7-2 vote at a two-day policy meeting. Board members Toichiro Asada and Ayano Sato dissented from the decision, according to Business Recorder.
The Bank of Japan Governor, Kazuo Ueda, is set to hold a news conference at 3:30 p.m. local time to explain the decision.
Brief written by urgent.news from Business Recorder, The Japan News by The Yomiuri Shimbun — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- BOJ Raises Interest Rates to 31-Year High in Widely Expected Move (Update 1) japannews.yomiuri.co.jp
