▲ Bank of Japan
The Bank of Japan (BOJ), the country's central bank, is expected to raise its benchmark interest rate today, June 16, for the first time in six months during its Monetary Policy Meeting.
According to reports from the Nihon Keizai Shimbun (Nikkei) and other sources, the Bank of Japan is discussing a 0.25 percentage point hike to its short-term policy rate, moving it from the current "around 0.75%" to "around 1%," during the two-day meeting that began yesterday.
If the benchmark interest rate is raised to around 1%, it will mark the highest level in 31 years, since September 1995.
In the financial markets, expectations have been dominant that the Bank of Japan would raise its policy rate at this meeting.
(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.