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الاقتصادية
Bank of Japan near 31-year high in interest rates
The Bank of Japan is heading toward raising interest rates to 1.25% at its scheduled September meeting, the highest level in 31 years, in an effort to combat rising inflation driven by increasing oil and import costs and a weak yen. August data shows producer prices rising by 7.6% and Japan’s imports increasing by 24.8%, with a trade deficit of $7.12 billion, reinforcing market expectations of a rate hike. This move comes as part of the central bank's efforts to normalize monetary policy after years of low interest rates, focusing on managing inflationary pressures resulting from rising energy costs and strong economic demand, while keeping interest rates close to a neutral level between 1.1% and 2.5%.
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