Bank of Japan Hikes Benchmark Rate to Highest Level Since 1995

Governor Kazuo Ueda’s policy board increased the rate by a quarter percentage point to 0.75%, in a unanimous decision, according to its statement Friday. The central bank cited the rising likelihood of its economic outlook being realized. The BOJ made it clear that the hiking cycle will continue by asserting that it intends to keep raising borrowing costs if its economic outlook is realized, and the chances of that happening are increasing.