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…
The Bank of Japan raised interest rates to a 31-year high of 1.25 percent on Friday. This move was widely expected and aimed to prevent inflation from exceeding the 2 percent 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 Investing.com, the dissenting votes were a modest surprise as some market participants had not anticipated them. The outcome tempered expectations for further rate hikes, conveying a dovish impression.
BOJ Governor Kazuo Ueda is set to hold a news conference to explain the decision. The yen initially weakened following the decision, and attention now turns to Ueda's inflation outlook and policy stance. New inflation numbers out showed that price pressures remained unchanged in August.
Brief written by urgent.news from The Korea Times, Investing.com, FXStreet, Business Recorder, The Japan News by The Yomiuri Shimbun — 5 reports on this story. 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 (Update 1) japannews.yomiuri.co.jp
- 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 koreatimes.co.kr
