The Japanese central bank raises interest rates for the first time in 17 years

The Bank of Japan raised interest rates to 0.1% after the results of the March meeting, the first increase in 17 years.

Analysts confirmed to the Daily FX portal that “the bank committee evaluated the balance between salaries and prices before making the decision that aims to reach the inflation target of 2% by the end of the specified period until January.”

According to the Russia Today website, the bank said in a statement, “The bank’s previous policy of controlling government bond yields for ten years and the negative interest rate policy achieved its purpose.”

The regulatory body also announced the end of the buyback of securities of exchange-traded funds and assets of real estate investment funds.

The Bank of Japan will gradually reduce the volume of securities and corporate bonds, which will be repurchased within about a year.

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