Bank Of Japan Hikes Key Rate By 25 Bps

India, June 16 -- 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.

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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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Published by HT Digital Content Services with permission from RTT News....