BOJ hikes rates to 1%; US Fed holds
The Bank of Japan raised its policy rate to the highest level since 1995 and and said it will stop paring back its bond purchases from April 2027, amid rising energy costs and firming inflation expectations. The US Fed has held rates steady at the new chair’s first meeting.
The Bank of Japan (BOJ) has raised its benchmark interest rate, or the uncollateralised overnight call rate, by 0.25% to 1.0%, marking a further step in its gradual policy normalisation following its monetary policy meeting on June 16.
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