The Bank of Japan raised its benchmark interest rate by a quarter-point on Tuesday, to its highest level since 1995.
The policy board of BoJ voted 7-1 to raise the interest rate to 1.00 percent from 0.75 percent.
Previously, the bank had lifted the rate in December.
"…the Bank judged it appropriate to adjust the degree of monetary accommodation from the perspective of sustainable and stable achievement of the price stability target of 2 percent," the bank said in a statement.
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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.