Bank of Japan decides on rate hike on 16th, 1% for first time in 31 years with governor absent

The story

The Bank of Japan decided to raise interest rates on the 16th. According to reports, the decision was made with the governor absent.

The decision raised the policy rate to 1%, a level reported to be approximately the highest in 31 years.

At a glance

Interest-rate decision dateThe Bank of Japan decided to raise interest rates on the 16th.

Rate hike levelThe policy rate was raised to 1%.

Governor absentThe decision was made with the governor absent.

Historical significance of the levelIt was reported to have reached the 1% level for the first time in 31 years.

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