Economic news

BOJ raises short-term interest rates to 0.5% in widely expected move

2025.01.23 23:32

TOKYO (Reuters) – The Bank of Japan raised interest rates on Friday in a widely expected move, reflecting its growing optimism that wages will continue rising and keep inflation sustainably around its 2% target.

© Reuters. Japanese national flag hoisted atop of the Bank of Japan headquarters is seen through trees in Tokyo, Japan January 23, 2025.  REUTERS/Issei Kato

The board decided to raise the BOJ’s short-term policy rate to 0.5% from 0.25% by an 8-1 vote. Board member Toyoaki Nakamura dissented to the decision.

BOJ Governor Kazuo Ueda is scheduled to hold a press conference at 3:30 p.m. (0630 GMT) to explain the policy decision.



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