Bank of Japan hikes main interest rate for first time in 17 years

BI Desk || BusinessInsider

Published: 11:16, 19 March 2024

Bank of Japan hikes main interest rate for first time in 17 years

Photo: Collected

Japan's central bank on Tuesday scrapped its negative interest rate policy and hiked borrowing costs for the first time in 17 years.

"The Bank will encourage the uncollateralised overnight call rate to remain at around 0 to 0.1 percent," the Bank of Japan said in a statement, reports BSS/AFP.

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