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Bank Of Japan Raises Rates To 1% For The First Time In 31 Years, Will Stop Reducing Bond Purchases

Bank Of Japan Raises Rates To 1% For The First Time In 31 Years, Will Stop Reducing Bond Purchases As widely expected, the BoJ raised the policy rate by 25bp to "around 1%" (there was one dissent from newly appointed dovish board member Asada for a hold) taking the cost of borrowing to its highest level in 31 years as the country adjusts to sustained inflation. The 0.25% increase, which was widely expected, takes Japan to what analysts said was a critical milestone in the central bank’s effort of normalizing monetary policy...
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