π¦ The Bank of Japan raised its policy rate by 25 basisβ¦
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π¦ The Bank of Japan raised its policy rate by 25 basis points to 1.25% from 1.0% on Friday, taking it to its highest level in 31 years.
The decision followed a two-day policy meeting and passed by a 7β2 vote, Reuters reported. The increase had been widely expected by markets.
The central bank said inflation risks could push price growth above its 2% target. The move continues its shift away from the ultra-low-rate policies used for decades.
Higher Japanese borrowing costs can affect the yen, bond markets and household and business financing. Governor Kazuo Ueda was scheduled to explain the decision at a news conference. π
https://nutanica.com/Bank_of_Japan
The decision followed a two-day policy meeting and passed by a 7β2 vote, Reuters reported. The increase had been widely expected by markets.
The central bank said inflation risks could push price growth above its 2% target. The move continues its shift away from the ultra-low-rate policies used for decades.
Higher Japanese borrowing costs can affect the yen, bond markets and household and business financing. Governor Kazuo Ueda was scheduled to explain the decision at a news conference. π
https://nutanica.com/Bank_of_Japan
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