( ) -q-23- UNDATED (Correspondent Jeremy House) “for tightening credit.” Japan’s central bank has raised its benchmark interest rate for the first time in 17 years, ending a longstanding policy of negative rates meant to boost the economy. [CutID: <Cuts> BANK-OF-JAPAN-house-q-TUEam.mp3 Time: 23s Title: BANK-OF-JAPAN-house-q-TUEam Out-cue: for tightening credit] TAG: Correspondent Jeremy House reporting. Tuesday’s […]
Audio
The Bank of Japan ends its negative interest rate policy
( ) -q-23- UNDATED (Correspondent Jeremy House) “for tightening credit.”
Japan’s central bank has raised its benchmark interest rate for the first time in 17 years, ending a longstanding policy of negative rates meant to boost the economy.
[CutID: <Cuts> BANK-OF-JAPAN-house-q-TUEam.mp3
Time: 23s
Title: BANK-OF-JAPAN-house-q-TUEam
Out-cue: for tightening credit]
TAG: Correspondent Jeremy House reporting. Tuesday’s decision allowed room for adjustments and the BOJ said the economy still faces ”extremely high uncertainties.”
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VERBATIM: The Bank of Japan’s call rate was raised to a range of 0 to 0.1% from minus 0.1% at a policy meeting that confirmed expectations of a shift away from ultra-lax monetary policy. It’s the first rate hike since February 2007. The bank had set a target of about 2% inflation as the key indicator for tightening credit.