Japan: Bank of Japan Raises Interest Rates, Further Modifies Policy Framework

The Bank of Japan raised its policy rates for the first time since 2007 to 0%-0.1% and announced that it would officially exit its yield curve control policies, which have been in place since 2016 and helped keep long-term interest rates below a pre-set ceiling or, more recently, close to a reference rate, the Financial Times reported on March 19. ...