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Sorry, please use a different browser. Closing Japan’s base interest rate freeze… The yen-dollar exchange rate is above 156 yen for the first time in 34 years.
With the yen’s recent weakening accelerating, the Bank of Japan, Japan’s central bank, froze its benchmark interest rate.
The Bank of Japan froze the current base interest rate unchanged at the monetary policy decision meeting held for two days until today (26th).
This meeting was the first to be held since interest rates were raised for the first time in 17 years last month.
After the Bank of Japan’s decision to freeze the base interest rate, the yen/dollar exchange rate was above 156 yen per dollar, reaching its lowest level in 34 years.
Previously, Bank of Japan Governor Kazuo Ueda recently said, “If a fixed price increase exceeds the 2% target, short-term interest rates may be raised.”
Reporter Seokyi Yoon (seokyee@yna.co.kr)
#Bank of Japan #Base interest rate #Yen/dollar_exchange rate
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