Breaking
BOJ Raises Policy Rate to 1% From 0.75%, Highest Since 1995
Uk Jin
Summary
- The Bank of Japan said it would raise its benchmark interest rate by 0.25 percentage point to 1%% from 0.75%%.
- The latest rate increase was the first since December last year.
- A 1%% benchmark rate is the highest level in 31 years since September 1995.
The Bank of Japan said on June 16 that it would raise its benchmark interest rate by 0.25 percentage point to 1% from 0.75%.
The decision was made at the central bank's monetary policy meeting. The BOJ also decided to lift its short-term policy rate, which serves as the benchmark rate, to 1%.
The increase was the BOJ's first since December last year.
A 1% benchmark rate is the highest since September 1995, marking a 31-year high.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
