Bank of Japan raises interest rate to 0.5 pct-Xinhua

Bank of Japan raises interest rate to 0.5 pct

Source: Xinhua

Editor: huaxia

2025-01-24 11:40:30

TOKYO, Jan. 24 (Xinhua) -- The Bank of Japan (BOJ) on Friday raised its policy interest rate to 0.5 percent from 0.25 percent, in line with market expectations and marking another step to unwind its long-standing ultra-loose monetary stimulus.

This is the third rate hike since the BOJ ended its negative interest rate policy in March 2024 and takes the policy rate to its highest level since October 2008.

BOJ Governor Kazuo Ueda is scheduled to hold a press conference shortly to elaborate on the reasons behind the decision and outline the future direction of monetary policy.