The Bank of Japan raised its benchmark rate from 1% to 1.25% on September 18, its highest level in 31 years, according to VnExpress. The increase came three months after the previous adjustment, indicating a faster pace of monetary-policy normalisation.
The BOJ cited its aim of keeping inflation around 2%, but two policymakers opposed the decision. One argued that the economy was not strong enough for an increase and favoured holding rates, with August core inflation at 1.7%.