The Bank of Japan raised its benchmark rate by a quarter-point on Thursday as inflation remains stubbornly above the target.
The policy board decided to hike the uncollateralized overnight call rate to "around 0.75 percent" from "around 0.5 percent."
Previously, the BoJ had lifted the benchmark rate by 25 basis points in January.
Real interest rates are expected to remain significantly negative after the change in the policy rate, and accommodative financial conditions will continue to firmly support economic activity, the bank said.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.