The Bank of Japan raised its benchmark rate by a quarter-point to the highest level in three decades as inflation continued to remain above the target, and also hinted at further rate hikes.
The policy board, headed by Ueda Kazuo decided, by a unanimous vote, to hike the uncollateralized overnight call rate to "around 0.75 percent" from "around 0.5 percent."
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by Renju Jaya
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