Markets
BOJ raises interest rates to 31-year high in widely expected move
- At a two-day policy meeting that ended on Friday, the board decided by a 7-2 vote to raise its policy rate from 1%
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Brief AI Generated summary
The Bank of Japan raised interest rates to a 31-year high of 1.25% to curb inflation risks, a move decided by a 7-2 vote at its latest policy meeting.
Read the full article for:
- The new 31-year high interest rate.
- The 7-2 vote and dissenting board members.
- Governor Ueda's explanation of the decision.
By
TOKYO: The Bank of Japan raised interest rates to a 31-year high of 1.25% on Friday in a widely expected move to forestall risks of inflation overshooting its 2% inflation target.
At a two-day policy meeting that ended on Friday, the board decided by a 7-2 vote to raise its policy rate from 1%.
Board member Toichiro Asada and Ayano Sato dissented to the decision.
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BOJ Governor Kazuo Ueda is expected to hold a news conference at 3:30 p.m. (0630 GMT) to explain the decision.
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