Comment: A new era for the BoJ

As expected the Bank of Japan raised interest rates for the first time since March 2001 at its monetary policy meeting on 14 July. The decision to end the zero interest rate policy (ZIRP) with a 25 basis point hike in the overnight rate was unanimous one.

COMMENT BY CENTRALBANKNEWS

Although the hike was expected, the governor of the Bank of Japan, Toshihiko Fukui, and his fellow monetary policy committee members still had to overcome two large psychological hurdles. First it needed to lay to rest

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