Tokyo's Nikkei 225 index gained 0.3% to 40,074.87 after the central bank raised its benchmark rate to about 0.5% from 0.25%, as widely expected. It is the highest level for the rate since 2008, as the Bank of Japan shifts out of a long spell of extreme low interest rates meant to spur more borrowing and spending.
Asian markets rose Friday (Jan 24) after a record day on Wall Street in response to Donald Trump's tax-cut pledge, while the yen weakened slightly ahead of an expected interest rate hike by the Bank of Japan later in the day.
Japan’s core inflation rate rose to a 16-month high at 3% in December, year on year, boosting the case for a rate hike from the Bank of Japan.
Asia-Pacific markets trade mostly higher on Friday following an upbeat session on Wall Street overnight after U.S. President Donald Trump said he would push for lower interest rates and cheaper oil prices,
The Bank of Japan raised interest rates on Friday to their highest since the 2008 global financial crisis, underscoring its confidence that rising wages will keep inflation stable around its 2% target.
Japan's central bank has raised its key interest rate to about 0.5% from 0.25%, noting that inflation is holding at a desirable target level.
Indian benchmark equity indices reversed early losses, driven by gains in IT and FMCG stocks. Key market players like Power Grid and Adani Green show significant gains, while experts point towards US market strength impacting Indian equities.
The Bank of Japan raised its short-term interest rate to the highest in seventeen years on Friday as expected, aiming for a
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South Korea’s economy expanded 1.2% year on year in the fourth quarter, marking its slowest expansion since the second quarter of 2023.
The Bank of Japan was expected to hike its main interest rate on Friday by the most in 18 years despite fears of economic turmoil under US President Donald Trump.