The Bank of Japan raised interest rates on 31 July 2024 from 0% to 0.25%. This was a further uptick from the rate hike in March 2024, when the policy rate was increased for the first time in 17 years: rising from -0.1% to 0% and ending eight years of negative interest rates. The March move signalled a structural departure from the quantitative and qualitative easing (QQE) monetary policy regime introduced in April 2013 by the bank’s former governor, Haruhiko Kuroda. But recent market volatility following the latest rate hike begs the question — is the BoJ right to end

The Bank of Japan kept interest rates unchanged at its April meeting on Friday, temporarily propelling the yen below 155 per US dollar, its lowest level since 1990, and fueling speculation that the authorities might step in to prop up the currency. The yen has been depreciating since the beginning of 2021; last month’s decision by the Bank of Japan to end its negative interest rate policy and raise its short-term rate for the first time in 17 years to a range of 0-0.1% does not yet appear to have affected it. The Bank has long grappled with maintaining sustainable