The Bank of Japan (BOJ) officially raised interest rates on Friday to their highest level in three decades. This move is a key part of the BOJ's efforts to end a long era of ultra-loose monetary policy and near-zero borrowing costs. As expected, the BOJ raised the short-term interest rate from 0.5% to 0.75% through a unanimous decision by policymakers.
This increase underscores the BOJ's commitment to gradually normalizing its monetary policy. The market now awaits BOJ Governor Kazuo Ueda's press conference, scheduled for 3:30 p.m. local time, for further explanation and clues on the direction of future interest rate policy. (az)
Source: Newsmaker.id
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