The BOJ decided on a 0.25% policy rate hike, raising its operating target to 1.25%. Two policy board members voted against the decision, while the yen also briefly fell to the ¥157 level.
At its monetary policy meeting held on the 18th, the BOJ decided by majority vote to raise the operating target for the uncollateralized overnight call rate by 0.25%, from 1.00% to 1.25%.
The 1.25% policy rate is the highest level in approximately 31 years, since 1995, suggesting that the current rate-hike process is expected to continue.
Two policy board members, Asada Toichiro (浅田統一郎) and Sato Ayano (佐藤綾野), voted against the rate hike.
In the market, the yen plunged against the US dollar in the Tokyo foreign exchange market, briefly reaching the ¥157 level.