The Bank of Japan raised interest rates on Friday to their highest since the 2008 global financial crisis and revised up its inflation forecasts, underscoring its confidence that rising wages will keep inflation stable around its 2% target.
The Bank of Japan (BoJ) has raised its key short-term interest rate by 25 basis points to 0.5%, marking the highest level since 2008.
Governor Kazuo Ueda and his fellow board members lifted the overnight call rate by a quarter-percentage point to 0.5% at the end of a two-day meeting.
The yen strengthened and Japanese government bond yields rose to fresh multi-year highs on Friday after the Bank of Japan hiked interest rates as expected and raised its inflation forecasts.
World shares advanced Friday after U.S. stocks rose to a record and the Bank of Japan raised its key lending rate. Oil prices fell after U.S. President Donald Trump called on oil-producing countries to reduce the price of crude,
The Bank of Japan raised its key policy rate Friday to the highest level in 17 years, as Governor Kazuo Ueda continues his mission to return to central bank orthodoxy.
U.S. stock futures were moving lower in early action on Friday, on the heels of the first record for the S&P 500 of 2024. Dow Jones Industrial Average futures fell 15 points, or 0.03%, to 44,732
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The Bank of Japan raised interest rates on Friday to their highest since the 2008 global financial crisis and revised up its inflation forecasts, underscoring its confidence that rising wages will keep inflation stable around its 2% target.
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Japan's central bank has increased the cost of borrowing to its highest level in 17 years after consumer price rises accelerated in December. The move by the Bank of Japan (BOJ) to raise its short-term policy rate to "around 0.