FX.co ★ Japan Raises Policy Rate to Highest Since 1995

At its June meeting, the Bank of Japan raised its key short-term interest rate by 25 basis points to 1.0%, bringing borrowing costs to their highest level since September 1995, in line with market expectations. The decision, announced on Tuesday, also marked the first regular policy meeting held in the absence of Governor Kazuo Ueda, who is undergoing a two-week hospital stay.