Japan raises interest rates to 31-year high as central bankers fight inflation; retail sales rise in Great Britain – business live
AI desk brief
The Bank of Japan raised its policy rate by 25bp to 1.25%, the highest since 1995, with two dissenters; markets initially sold the yen 0.72% to 157.10 and the JGB curve steepened, with 2-year yields down 2.2bp and 30-year yields up 3.2bp. The move keeps the BoJ aligned with global tightening from the Fed and ECB, reinforcing the higher-rate backdrop that matters for gold via real yields and FX.
Sources used
- S1 The Guardian: Economics — Japan raises interest rates to 31-year high as central bankers fight inflation; retail sales rise in Great Britain – business live