The Bank of Japan raised its policy rate from around 1.0% to around 1.25% at its meeting on the 18th, with 2 members opposing the move. Entrepreneur Hiroyuki posted on social media that the yen would weaken further.
The Bank of Japan held a Monetary Policy Meeting and announced its decision to raise the policy rate from the current level of around 1.0% to around 1.25%. This effectively marked a shift away from the low-interest-rate environment, and it has been suggested that domestic funding costs could rise. The statement indicated that the rate hike was within the range expected by the market and reflected a cautious stance in light of global economic conditions.
It was also reported that 2 policy board members opposed the rate hike. The split vote suggests that debate over the future course of monetary policy will continue and could affect the board's future deliberations and the outlook for interest rates. The article mentions the specific reasons for the opposition, but this article reports only the facts.
Hiroyuki quoted on X a news report about the Bank of Japan's additional rate hike and posted a comment suggesting that the yen would continue to weaken. His post pointed to a move in USD/JPY to around 157 yen immediately after the Bank of Japan decided on an additional 0.25% rate hike, expressing the view that the yen could still lose value. The article does not include any subsequent reports on official assessments or market reaction.