Skip to Content Facebook Feature Image

Bank of Japan raises policy rate to 0.25 pct

China

Video Player is loading.
Current Time 0:00
Duration -:-
Loaded: 0%
Stream Type LIVE
Remaining Time -:-
Â
1x
    • Chapters
    • descriptions off, selected
    • captions off, selected
      China

      China

      Bank of Japan raises policy rate to 0.25 pct

      2024-07-31 20:47 Last Updated At:21:17

      Japan's central bank on Wednesday decided to raise its short-term interest rates to 0.25 percent, up from a range between zero and 0.1 percent, local media reported.

      The second policy rate hike this year, which was announced after a two-day monetary policy meeting, marked the first "additional rate hike" since February 2007, national broadcaster NHK reported.

      The Bank of Japan also decided to halve its monthly government bond purchases to 3 trillion yen (about 20 billion U.S. dollars) from around 6 trillion yen by March 2026, signaling steps toward normalizing its monetary policy.

      In its statement, the central bank said it will continue to raise the policy interest rate and adjust the degree of financial easing if the economy and prices develop as expected.

      The market expects that after the rate hike, Japan's short-term interest rate will rise to around 0.3 percent, one of the highest levels since the 2008 financial crisis. The rate hike is expected to affect Japan's household deposits, housing loan rates and corporate borrowing rates.

      Bank of Japan raises policy rate to 0.25 pct

      Bank of Japan raises policy rate to 0.25 pct

      Next Article

      Xi calls for strengthening China-Russia ties to address global uncertainties

      2025-01-21 22:51 Last Updated At:01-22 01:17

      Chinese President Xi Jinping called for joint efforts to guide China-Russia relations to a new height in 2025 so that the stability and resilience of their bilateral relationship can better cope with the uncertainties of a challenging global environment, when talking with Russian President Vladimir Putin via video link on Tuesday.

      Xi expressed his pleasure at meeting with Putin ahead of the Chinese New Year, which falls on Jan 29 this year, describing it as a time for reflection and planning.

      "At the turn of the year, it is a moment to review achievements and chart new plans," he said.

      Xi noted that this year marks the 80th anniversary of the victories of the Chinese People's War of Resistance against Japanese Aggression, the Soviet Union's Great Patriotic War and the World Anti-Fascist War, as well as the 80th anniversary of the founding of the United Nations (UN).

      "China and Russia should take the opportunities presented by the anniversaries to jointly safeguard the U.N.-centered international system, and the hard-won fruits of victory in World War II. Both countries, as founding members of the UN and permanent members of the Security Council, must uphold their institutional rights," he said.

      "In the new year, I'm willing to work with you to continue guiding China-Russia relations to a new height in 2025, to respond to external uncertainties with the stability and resilience of China-Russia ties, to boost the development and prosperity of both countries, and to uphold international fairness and justice," Xi said.

      Putin said he agrees with Xi's views, saying that Russia-China cooperation is built on a broad commonality of national interests.

      "Our perspectives on how to properly handle relations between major powers are increasingly aligned. Our bilateral relationship is built on friendship, mutual trust, support, equality and mutual benefit. It is independent and unaffected by domestic political factors and the current international situation," he said.

      Xi calls for strengthening China-Russia ties to address global uncertainties

      Xi calls for strengthening China-Russia ties to address global uncertainties

      Recommended Articles
      Hot · Posts