Bank of Japan raises interest rates to 31-year high (opens original article in a new tab)

The Bank of Japan raised interest rates to a 31-year high of 1%, marking a shift toward tighter monetary policy to address inflation risks, with a 7-1 vote and continued bond purchases.

• Bank of Japan raised interest rates to 1% from 0.75%, the highest since 1995.
• The decision was made by a 7-1 vote, with concerns over broadening inflation risks despite reduced economic deterioration risks.
• The BOJ paused its bond taper program and will continue buying 2 trillion yen in JGBs monthly.