April 13, 2024

Brighton Journal

Complete News World

The Bank of Japan has ended the world's only negative interest rate regime in a historic move

The Bank of Japan has ended the world's only negative interest rate regime in a historic move

Editorial montage of the Japanese flag and Japanese yen banknotes

Javier Gersi | moment | Getty Images

Japan's central bank raised interest rates on Tuesday for the first time since 2007, ending the world's only negative interest rate regime amid early signs of strong wage increases this year.

Despite this, the Bank of Japan warned that it is not about to embark on aggressive rate hikes, saying it “expects easy financial conditions to be maintained for the time being,” given fragile growth in the world's fourth-largest economy.