🇯🇵 Bank of Japan (BOJ) raised its interest rate to 1.0% from 0.75% — the highest level in about 31 years. The hike was expected and was mainly due to inflation pressure and a weak yen.
Quick market impact:
* 💴 Yen: Positive long term (higher rates support JPY), but reaction may be limited because markets expected it. * 📉 Crypto: Slight risk-off pressure possible because higher Japanese rates can reduce cheap borrowing/carry trades. * 🟡 Gold: Mixed — higher rates can pressure gold, but inflation/geopolitical risks can support it. * 📈 Stocks: Japan stocks surprisingly remained strong as the hike was already priced in.