The Bank of Japan, beset by inflation and a weak yen, made a move higher and lifted rates to levels not seen since 1995.
For most analysts, it was a “done deal” ahead of the actual decision given the market’s growing impatience with wait and see and a growing sense in Japan that prices are simply rising too fast.
At a two-day policy meeting that ended Tuesday, the central bank voted to raise its policy rate — the uncollateralized overnight call rate — to 1% from 0.75%.
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