Reported 3 months ago
In a significant move to normalize monetary policy, the Bank of Japan increased its benchmark interest rate from a range of 0 to 0.1% to approximately 0.25% and announced plans to reduce bond purchases. This decision comes just hours before the Federal Reserve's announcement, highlighting Japan's shift towards tackling rising inflation as it aims to curtail ultra-easy policies established in previous years. The yen and stock markets reacted positively, with further speculation on potential future rate hikes as economic conditions evolve.
Source: YAHOO