Bank of Japan raises interest rates to a 31-year high
Reuters reports that the bank signalled readiness to keep raising borrowing costs as it joins other major central banks in fighting persistent inflation pressures driven by soaring oil costs.
TLDR
Reuters reported on September 18 that the Bank of Japan raised interest rates to a 31-year high and signalled readiness for further increases. The report linked the move to persistent inflation pressures driven by soaring oil costs. Reuters’ Morning Bid analysis described the bank as struggling to keep pace with its rate-hiking peers.
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