The Bank of Japan raised its policy rate to 1.25%, taking it to a 31-year high. Governor Ueda Kazuo (植田和男) suggested that monetary policy had entered a new phase, and the market responded with the Nikkei Stock Average rising approximately ¥882.
The Bank of Japan announced its decision to raise the policy rate from its current level to 1.25%. This brings the rate to a 31-year high, and interest-rate conditions in financial markets are expected to change.
Following the announcement, the Nikkei Stock Average rose approximately ¥882 from the previous day, with buying reportedly prevailing across the equity market.
At press conferences and elsewhere, Governor Ueda Kazuo (植田和男) indicated that monetary policy had entered a new phase, drawing attention to the direction of monetary policy operations going forward.
Readers will likely need to monitor the timing of future policy announcements, whether the market reaction persists, lending trends at banks, and the broader impact on financial markets.