Breaking News: The Bank of Japan has decided to raise the policy interest rate by around 0.25% on July 31, 2024 at 12:59 p.m.
The Bank of Japan has decided on an additional interest rate hike at the financial policy decision meeting held until the 31st.
Regarding the short-term market interest rate, which is the policy target, it is currently encouraged to be around 0% to 0.1%, but this will be raised to around 0.25%.
The interest rate hike by the Bank of Japan is the first since lifting the negative interest rate in March of this year.
The "additional interest rate hike," which raises interest rates again after implementing an interest rate hike, is the first since February 2007 during Governor Fukui's tenure, and it will further advance the normalization of monetary policy along with a reduction in government bond purchases.
President Ueda is planning to explain the purpose of the decision at a press conference starting at 3:30 p.m.
Regarding the short-term market interest rate, which is the policy target, it is currently encouraged to be around 0% to 0.1%, but this will be raised to around 0.25%.
The interest rate hike by the Bank of Japan is the first since lifting the negative interest rate in March of this year.
The "additional interest rate hike," which raises interest rates again after implementing an interest rate hike, is the first since February 2007 during Governor Fukui's tenure, and it will further advance the normalization of monetary policy along with a reduction in government bond purchases.
President Ueda is planning to explain the purpose of the decision at a press conference starting at 3:30 p.m.
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