Bank of Japan raises benchmark interest rate to 1%, highest in 30 years
By
John Power
22d ago· 3 min readenNews
Summary
The Bank of Japan (BOJ) raised its benchmark interest rate to 1 percent, the highest level since 1995, marking a significant shift away from decades of ultra-loose monetary policy. The 7-1 vote resulted in a quarter-point hike, with the central bank citing price pressures stemming from the US-Israel war on Iran. This move continues Japan's transition from rock-bottom borrowing costs aimed at reversing economic stagnation.
Source
bskyBank of Japan raises benchmark interest rate to 1%, highest in 30 yearsaljazeera.comKey quotes
· 3 pulledJapan’s central bank has raised interest rates to a three-decade high, citing price pressures stemming from the United States-Israel war on Iran.
The Bank of Japan (BOJ) on Tuesday voted 7-1 to hike its benchmark rate to 1 percent, a milestone in the country’s shift away from decades of rock-bottom borrowing costs.
The BOJ’s widely expected quarter-point hike lifted the key policy rate to its highest level since 1995, continuing its march away from an ultra-loose monetary policy aimed at reversing Japan’s economic stagnation.
Bank of Japan hikes benchmark rate to 1 percent, continuing shift away from decades of ultra-low borrowing costs.
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