TOKYO, July 31 (Bernama-Xinhua) -- Japan's central bank announced on Wednesday a decision to raise its short-term interest rate to 0.25 per cent, up from the previous range of zero to 0.1 per cent, reported Xinhua citing local media reports.
The second policy rate hike this year, which was announced after a two-day monetary policy meeting, marked the first "additional rate hike" since February 2007, national broadcaster NHK reported.
The Bank of Japan also decided to halve its monthly government bond purchases to 3 trillion yen (about US$20 billion) from around 6 trillion yen by March 2026, signalling steps toward normalising its monetary policy.
--BERNAMA-XINHUA
