BOJ hikes interest rate to 0.5% by 8-to-1 vote - Fri 24 Jan 2025

The BOJ has decided to raise short-term interest rates by 25 basis points (0.25%) to 0.5% by a 8-to-1 vote at the end of its policy meeting on Friday to slow down inflation and allow more time for wage increases to catch up. This rate hike did not crash the Nikkei, unlike in August 2024 as most of the algo-driven yen carry trade have likely been unwounded last year.

This marks the highest rate since 2008 as the BOJ believes that a virtuous cycle of rising wages and consumer prices have started in Japan.

The BOJ has indicated its willingness to continue raising rates to durably achieve its 2% inflation target.

The BOJ's next policy meeting will be held on Mar. 18 (Tues.) and 19 (Wed.) 2025.


 
 

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