The Bank of Japan announced to raise interest rates and reduce the scale of government bond purchases
The Bank of Japan decided to raise interest rates and reduce the scale of government bond purchases at the monetary policy meeting that ended on July 31. This is the first interest rate increase since the Bank of Japan ended its negative interest rate policy in March this year.
The Bank of Japan announced that day that it would raise the policy interest rate from 0% to 0.1% to about 0.25%, and gradually reduce the amount of government bond purchases from the current monthly level of about 6 trillion yen (1 U.S. dollar is equivalent to 152.7 yen) to 2026. From January to March this year, it was reduced to about 3 trillion yen per month.
On July 31, the Japanese stock market rose significantly and pulled sharply in late trading. The Nikkei 225 index closed at 39101.82 points, up 1.49%. The Topix index reported 2794.26 points, up 1.45%.
A total of 2,669 stocks rose that day, accounting for 66.51%. S·SCIENCE, HYPER, and KIMOTO were among the top gainers.