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 increased interest rates to a 31-year high on June 15, as anticipated, in an effort to combat inflationary pressures. The yen weakened in response, while Japanese stocks surged, buoyed by the weaker currency. The decision, which was in line with market expectations, led to a slight dip in Japanese 2-year government bond yields, but saw longer-dated bonds rise.
Two dissenting board members raised eyebrows, as they joined the U.S. Federal Reserve and the European Central Bank in tightening policy to fight inflation. BOJ Governor Kazuo Ueda is set to deliver a press conference, where markets will look for clues on the pace and extent of further rate hikes.
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.
This story
This is one outlet's version. Read the fullest account.
- 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
