The Bank of Japan has increased its benchmark interest rate by 0.25 percentage points to 0.75%, marking the highest level in 30 years. Governor Kazuo Ueda stated that the policy board unanimously agreed on the hike, citing a growing likelihood of achieving their economic outlook. Following the announcement, the yen weakened against the dollar, trading near 156 yen, indicating that the market had fully anticipated the rate increase.
Bank of Japan Raises Interest Rate to 30-Year High
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