BOJ Raises Rate to 31-Year High and Signals More to Come
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The Bank of Japan raised its benchmark interest rate to 1% and pledged to continue raising rates in response to developments in the economy.
The BOJ said it would stop paring back its bond buying from next April, keeping its bond buying stable at a monthly pace of around ¥2 trillion.
The bank’s decisions fueled speculation of another rate hike before the end of the year, with Deputy Governor Shinichi Uchida reiterating the bank’s commitment to raise rates again and keep on top of upside inflation risks.
Disclaimer: This publication is for general informational and educational purposes only. It is not investment advice, does not take into account individual circumstances, and should not be relied upon for making investment decisions. The views expressed are solely those of the author and do not represent the views of any employer or affiliated institution.
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