The Bank of Japan raised rates on Friday in a move that was widely expected, and offered mixed signals about the outlook, with two dissents suggesting dovishness balanced by a mildly hawkish statement from the bank.
It took the uncollateralized overnight call rate to 1.25% from 1%, as the central bank’s policy board concluded its two-day policy meeting on Friday. The policy rate is at its highest level since 1995.
The decision to up the rate was almost a given. All 52 economists surveyed by Bloomberg between Sept. 4 and Sept. 10 believed that the BOJ would do so.
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