The BOJ raised its policy rate from the current level of around 1.0% to around 1.25% at its monetary policy meeting. Since Ueda Kazuo (植田和男) took office, this is the fastest pace, with only 3 months since the previous rate hike.
At its monetary policy meeting held on the 18th, the BOJ decided to raise its policy rate from the current level of around 1.0% to around 1.25%. This accelerated the pace of rate hikes, bringing the interval since the previous hike to 3 months.
This was the shortest interval since Ueda Kazuo (植田和男) took office. The BOJ indicated that it would continue normalizing monetary policy while taking into account trends in resource prices and the domestic economy.
The decision was a formal determination by the BOJ at its monetary policy meeting, and further revisions may be considered depending on the future conduct of policy and developments in economic activity and prices.
There are also views that energy and crude oil trends and the foreign exchange market influenced the background to the current hold or rate hike, but the article avoids asserting any specific causal relationship.