Japan's central bank raised interest rates.

Japan's central bank, the Bank of Japan (BoJ), raised its interest rates for the first time in 17 years, ending a policy of negative rates aimed at stimulating economic growth. The short-term rate was increased to a range of 0% to 0.1%, up from -0.1%. This marks the end of the world's longest running monetary easing campaign, which had been in place since 2007 to combat deflation. Alongside this, the BoJ has also abandoned its yield-curve controls and most of its asset purchases used for monetary policy easing.

March 19, 2024
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