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 percent on Friday in a widely expected move to forestall risks of inflation overshooting its 2 percent 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 percent. Board member Toichiro Asada and Ayano Sato dissented to the decision. BOJ Governor…
TOKYO — The Bank of Japan hiked interest rates to a 31-year high in a move widely anticipated by markets. The yen fell following the decision, with two dissenting board members raising questions about the intensity of future policy tightening. Japanese stocks benefited from the weaker currency, driving the Nikkei index to a psychological milestone.
However, the Bank of Japan's Governor Kazuo Ueda will need to demonstrate a hawkish stance at his upcoming press conference to prevent the yen from depreciating further. Expectations now call for the BOJ to continue raising rates in 25-basis-point increments approximately once every quarter.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- BOJ raises interest rates to 31-year high in widely expected move koreatimes.co.kr
- BOJ raises interest rates to 31-year high in widely expected move brecorder.com
- BOJ Raises Interest Rates to 31-Year High in Widely Expected Move (Update 1) japannews.yomiuri.co.jp
