The Bank of Japan raised its benchmark rate unexpectedly and also outlined its tapering plans on Wednesday ahead of the Federal Reserve's monetary policy announcement.
The policy board voted 7-2 to lift the uncollateralized overnight call rate to around 0.25 percent from around 0-0.1 percent. The new rate is the highest since late 2008.
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April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.