TechFlow news, on January 24, according to Jinshi News, the Bank of Japan announced a 25-basis-point rate hike to 0.5%, marking the largest increase since 2007 and reaching the highest interest rate level since October 2008. The decision was passed by a vote of 8 to 1, with board member Hiromi Nakamura opposing the rate hike.
The central bank stated it will conduct monetary policy based on the sustainability of its 2% inflation target and will continue raising policy rates if economic and price developments follow the expected trajectory. After the announcement, USD/JPY experienced short-term volatility with a swing of 30 pips, trading at 156.03.
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