The Bank of Japan announced a decision at its monetary policy meeting to raise the policy rate from around 1.0% to around 1.25%, taking it to its highest level in 31 years.
The Bank of Japan held a monetary policy meeting and decided to raise the policy rate from its current level of around 1.0% to around 1.25%. The increase brings the interest-rate level to its highest in approximately 31 years. It effectively marks a shift from the previous policy of keeping rates unchanged.
Details on the market reaction and future interest-rate trends are expected to be added in subsequent updates to this article, but for now, the news is that a new interest-rate level of around 1.25% has been announced.