The Bank of Japan has raised its short-term policy rate to “around 1 per cent”, taking the cost of borrowing to its highest level in 31 years as the country adjusts to sustained inflation.
The 0.25 percentage point increase, which was widely expected, takes Japan to what analysts said was a critical milestone in the central bank’s effort of normalising monetary policy after years of ultra-low interest rates and deflation.
The BoJ’s policy rate was last at 1 per cent in 1995, when the central bank was in the process of lowering borrowing costs in the wake of the Japanese asset bubble burst in the late 1980s.
您已阅读15%（613字），剩余85%（3548字）包含更多重要信息，订阅以继续探索完整内容，并享受更多专属服务。