Late news:
Bank of Japan monetary policy board member Nakamura is attending the meeting by telephone. The BoJ says Nakamura is recovering from a possible infection.
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OK, on with the post!
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The Bank of Japan raised rates in March 2024, ending its negative interest rate policy regime. The Bank increased short-term interest rates to a range of 0% to 0.1%.
- It followed up in July, when it further raised the key interest rate to 0.25%.
Those two rate hikes were the first in (not quite) 20 years! The Bank hiked once in 2006 and 2007:
The Bank is widely expected to raise its short term rate again tomorrow:
- Poll shows 18 out of 19 economists expect a Bank of Japan rate hike on Friday
- The BOJ meet today and tomorrow and is unlikely to delay rate hike action
This article was written by Eamonn Sheridan at www.forexlive.com.
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