The Bank of Japan increased its policy rate from -0.1% to 0-0.1%. This is the first increase in the last 17 years. writes about this Reuters According to data from the Bank of Japan.
“The end of negative interest rates shows the Bank of Japan’s confidence that the country is out of the grip of deflation,” said Frederic Neumann, chief Asia economist at HSBC in Hong Kong.
In addition, the regulator decided to abandon yield curve control, a policy in place since 2016 that caps long-term interest rates at near zero.
According to the statement, the central bank will also stop purchasing risky assets such as exchange-traded funds (ETFs) and Japanese real estate investment trusts.
The Bank of Japan has stated that any future interest rate hikes will be moderate. The regulator expects comfortable financial conditions to continue.
On Friday, March 22, the Central Bank of Russia will hold a meeting on the interest rate. BCS Forex analyst Anatoly Trifonov shared He shared with socialbites.ca his prediction about what decision the regulator will make.
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