Bank of Japan meeting —
At its 31 July 2024 meeting, the Bank of Japan raised its policy rate from -0.10% to 0.25%. The decision passed 7-2. 2 members dissented.
Decision
hike — -0.10% to 0.25%
Vote: 7-2
Dissenters
- Seiichi Nakamura — preferred hold
- Asahi Noguchi — preferred hold
Key passages
The Bank will encourage the uncollateralized overnight call rate to remain at around 0.25 percent.
given that real interest rates are at significantly low levels, if the outlook for economic activity and prices presented in the July Outlook Report will be realized, the Bank will accordingly continue to raise the policy interest rate and adjust the degree of monetary accommodation.
Meeting documents
Background reading
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