BOJ raises rates in split decision amid US pressure - Taipei Times

The Bank of Japan (BOJ) raised its benchmark interest rate in a split decision showing dissent within the board as it confronts mounting inflation risks and unusually explicit calls for further policy normalization from Washington. The BOJ lifted its policy rate by a quarter point to 1.25 percent yesterday at the end of a two-day meeting, according to its statement, in a move predicted by all economists surveyed by Bloomberg. Japan’s currency slipped about 1 percent to ￥157.54 against the dollar during Governor Kazuo Ueda’s post-decision briefing, even after he said the BOJ needed to avoid letting prices deviate above target and harming the economy. “The stage for setting policy has changed,” Ueda said.