At a press conference following the Monetary Policy Meeting, the Bank of Japan reportedly raised the policy interest rate to around 1.25% and changed the applicable rate under the Complementary Deposit Facility and the basic loan rate.
According to Governor Ueda Kazuo (植田和男)'s opening remarks, a majority decided to change the current target for the uncollateralized overnight call rate under the guidelines for money market operations from around 1.0% to around 1.25%, and also decided to change the applicable rate under the Complementary Deposit Facility and the basic loan rate.
Asada (浅田) reportedly argued that market operations should be left unchanged in light of consumer prices currently being below 2%, while Sato (佐藤) reportedly opposed the proposal, saying that the economy and prices were not accelerating significantly at present and that this sale was not appropriate.
Other topics, including climate-related matters, were also reportedly discussed at today's meeting.