The Bank of Japan plans to raise its policy rate from the current level of around 1.0% to around 1.25% at this month's meeting, it has been learned. The meeting will be held on the 17th and 18th, and the increase would bring the rate to its highest level in approximately 31 years.
The Bank of Japan plans to raise its policy rate from around 1.0% to around 1.25% at this month's meeting. If the increase is approved, the rate will reach its highest level in approximately 31 years.
Against this backdrop, measures are expected to be taken to address the risk that higher crude oil prices and yen depreciation will push up prices. The Bank plans to review economic and price conditions at the meeting before making a final decision.
Bank of Japan Governor Ueda Kazuo (植田和男) has expressed an intention to consider raising the policy rate at the next monetary policy meeting. This month's meeting is scheduled for the 17th and 18th, and the decision is expected to be made during the meeting.