Bank Of Japan Raises Key Interest Rate By 25 Bps

India, Sept. 18 -- The Bank of Japan lifted its benchmark rate by a quarter point to a 31-year high, as widely expected, on Friday.

The policy board, governed by Ueda Kazu, decided by a 7-2 majority vote to raise the interest rate to 1.25 percent from 1.00 percent.

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The current rate is the highest since 1995. The bank had lifted its benchmark rate by 25 basis points in June.

Board members Asada Toichiro and Sato Ayano dissented from the hike.

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