BOJ raises interest rates to 31-year high in widely expected move
In a significant policy shift, the Bank of Japan has raised interest rates to a 31-year high of 1.25 percent, a widely anticipated decision aimed at curbing inflation. The board's vote was split seven to two, with Toichiro Asada and Ayano Sato exp...
By Reuters | Updated:
Reuters
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.
BOJ Governor Kazuo Ueda is expected to hold a news conference at 3:30 p.m. (0630 GMT) to explain the decision.
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.
BOJ Governor Kazuo Ueda is expected to hold a news conference at 3:30 p.m. (0630 GMT) to explain the decision.
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