Bank of Japan meeting —
At its 19 December 2024 meeting, the Bank of Japan raised its policy rate from -0.10% to 0.25%. The decision passed 8-1. Naoki Tamura dissented, preferring a hike.
Decision
hike — -0.10% to 0.25%
Vote: 8-1
Dissenters
- Naoki Tamura — preferred hike
Key passages
The Bank will encourage the uncollateralized overnight call rate to remain at around 0.25 percent.
Tamura Naoki considered that, with economic activity and prices developing in line with the Bank's outlook, risks to prices had become more skewed to the upside, and proposed that the Bank set the guideline for money market operations as follows: the Bank would encourage the uncollateralized overnight call rate to remain at around 0.5 percent.
Meeting documents
Background reading
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