- The Bank of Japan raised its benchmark interest rate by a quarter point to 1.25% at the end of a two-day meeting, according to its statement.
- The vote was 7-2, with board members Toichiro Asada and Ayano Sato dissenting.
- The BOJ is hiking at the fastest pace since 1990, driven by mounting inflation risks and unusually explicit calls for further policy normalization from Washington.
Quotes
“The Bank of Japan raised its benchmark interest rate, ramping up the pace of hikes to the fastest in 36 years as it confronts mounting inflation risks and unusually explicit calls for further policy normalization from Washington.”
“The BOJ lifted its policy rate by a quarter point to 1.25% Friday at the end of a two-day meeting, according to its statement, in a move predicted by all economists surveyed by Bloomberg.”