Japan gears up for record-high interest rates

The Bank of Japan is preparing to raise its key interest rate to 1%, the highest level since 1995, amid expectations of a quarter-point increase during a meeting where Governor Kazuo Ueda will not attend due to illness. The country is facing increasing inflation risks and a declining yen. This meeting will mark the first rate hike since December, as the market watches for the bank’s response to bond market conditions and global tensions, with inflationary pressures persisting and ten-year bond yields reaching their highest level since 1996.

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