Bank of Japan raises rates to 1% amid Iran-war inflation pressures
Japan's central bank has raised its main interest rate to 1%, the highest level since 1995, after citing inflationary pressure linked to higher oil costs from the Iran war. The Bank of Japan said on Tuesday that it was increasing its short-term policy rate from 0.75% in a quarter-point move, as price rises broadened across the economy. Officials said companies were passing on higher oil costs at a relatively fast pace, and that underlying inflation was moving closer to the bank's 2% target.Governor Shinichi Uchida said the risk of a sharp deterioration in the economy had diminished compared with the... [Continue Reading]
360LiveNews | 16 Jun 2026 12:02 LONDON
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