The Bank of Japan raised its target rate by 25 basis points from 0.75% to 1.00%, marking the highest level in 31 years and matching market expectations. The bank had kept rates unchanged at its previous three meetings.
According to Odaily Planet Daily, citing Jinshi, the Bank of Japan raised interest rates by 25 basis points, lifting its target rate from 0.75% to 1.00%. The move brings the target rate to its highest level in 31 years and was in line with market expectations.
Before this rate increase, the Bank of Japan had left rates unchanged for three consecutive meetings. A 25-basis-point increase is equal to 0.25 percentage point, meaning the target rate has now moved from the previous 0.75% level to 1.00%.
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