The Bank of Japan (BoJ) decided on Wednesday to raise its short-term interest rate target by 15 basis points to a range of 0.15% to 0.25%.
The news comes as analysts anticipated that the BoJ would keep the rate in its previous range of 0% to 0.1%.
The central bank also said it will reduce its bond purchases to ¥3 trillion starting from 2026, cutting monthly bond buying by ¥400 billion each quarter. It noted that the bond tapering plan received unanimous support among members and that it will be reviewed in June next year.
