The Bank of Japan decided to raise its benchmark interest rate by a quarter-point to its highest level in 31 years, and to halt government bond purchase reductions next year.
The policy board of BoJ voted 7-1 to raise the interest rate to 1.00 percent from 0.75 percent, as widely expected, on Tuesday.
The board signaled its commitment to further monetary policy tightening to support its price stability target.
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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.