business

Bank of Japan raises interest rates to 0% to 0.1% from -0.1% for the 1st time in 17 years

The Bank Of Japan heralded a new era as it shifted away from years of ultra-easy monetary policy. It raised its short-term interest rates to around 0% to 0.1% from -0.1%. The Central bank also abandons yield-curve control policy, though it pledged to continue its purchases of Japanese government bonds as before. The Japanese yen weakened to as much as 149.92 against the greenback, while the Nikkei stock index swung between gains and losses following the BOJ decision.

first published: Mar 19, 2024 07:19 pm