BOJ raises interest rates to 31-year high in widely expected move
- On Friday, the BOJ raised its uncollateralized overnight call rate to 1.25% from 1%, concluding its two-day policy board meeting.
- The policy rate reached its highest level in decades, a decision anticipated by all 52 economists surveyed by Bloomberg between Sept. 4 and Sept. 10.
- This move follows Wednesday's decision by the Federal Reserve to raise rates to a range of 3.75% to 4%, with markets appearing relieved the Fed prioritizes inflation control.
- BOJ Ueda is scheduled to hold a news conference later Friday as the bank navigates pressure to stabilize the yen; the decision faced two dovish dissents.
- Saudi Arabia and Iran-backed Houthis exchanged fresh strikes across their border on Thursday near the Red Sea, keeping crude prices above $100 a barrel and up nearly 15% this month.
182 Articles
182 Articles
Bank of Japan rate hike exposes cracks in Bessent's facade
TOKYO – Two words sprang to mind when the Bank of Japan lifted its policy rate to a 31-year high of 1.25% on Friday: Scott Bessent. No, the US Treasury secretary didn’t cause the 25-basis-point increase announced by Governor Kazuo Ueda. The BOJ was responding to a far more pressing reality: inflation continues to outpace […]
The Bank of Japan raised its base interest rate by 0.25 percentage points to 1.25% on the 18th. This marks the first rate hike in three months and marks the highest level in 31 years since April 1995. Despite the announcement of the rate hike, the yen-dollar exchange rate rose, indicating continued weakness of the yen. The Bank of Japan [conducted] monetary policy over the past two days starting the previous day
The Bank of Japan raised interest to 1.25%, the highest level in 31 years, to meet the risks of oil inflation and currency weakness, but Ellen continued to retreat amid the division of the Council and the absence of a clear path for future increases.
Japan's central bank today raised its benchmark interest rate to 1.25 percent from 1.0 percent, a 31-year high.
This is the second rise in interest in three months, with a vote of seven to two, so the bank joins the Federal Reserve and the European Central Bank (ECB) in recovering the rise in interest rates.
Today the Central Bank of Japan has raised the main interest rate from 1% to 1.25%, its highest level in 31 years, in a move to counter inflationary pressures, especially from rising energy costs.
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