The Bank of Japan raises its key rate for the first time since 2007

2024-03-19T04:20:17.177Z

Highlights: The Bank of Japan raises its key rate for the first time since 2007. At the same time, the BoJ is putting an end to its negative rate policy and control of Japanese bond yields. The BoJ will now apply a short-term interest rate between 0% and 0.1%, compared to -0.1% previously. “Accommodative” financial conditions should remain in place for the moment, however, BoJ insisted. The Bank ofJapan raised its key rates on Tuesday March 19, a first in 17 years.

At the same time, the BoJ is putting an end to its negative rate policy and control of Japanese bond yields, two unconventional tools in place since 2016.