Jul 31, 2024CORE

Bank of Japan Raises Policy Rate to 0.25%

Continuing its normalization after ending negative rates, the Bank of Japan raised its target for the uncollateralized overnight call rate to around 0.25%.

Sources

Change in the Guideline for Money Market Operations and Decision on the Plan for the Reduction of the Purchase Amount of Japanese Government Bonds
Bank of JapanENJul 31, 2024Official statement

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OngoingEconomy · 2022

Japanese Yen Weakness and Monetary Policy Normalization

Tracks Japan's response to persistent yen weakness from its first yen-buying intervention in 24 years in 2022 through the Bank of Japan's exit from negative rates, successive rate hikes, large-scale interventions in 2024 and 2026, and the 2026 joint U.S.-Japan intervention and prospect of further tightening.

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