The Bank of Japan decided at its Monetary Policy Meeting to raise the target for its policy rate from 1.0% to 1.25%. The decision was approved by a 7-2 majority.
At the Monetary Policy Meeting held by the Bank of Japan, the target for the uncollateralized overnight call rate was raised from around 1.0% to around 1.25%.
The decision to raise the policy rate was approved by a 7-2 vote.
The decision represents a change in the Bank of Japan’s policy management stance and is drawing attention as it could affect financial conditions going forward.