Business · 16 June 2026

Japan interest rate hits 1%, 31-year high

This is the biggest rise in over three decades for Japan, marking a significant shift after years of near-zero rates. On Tuesday, the Bank of Japan (BOJ), the country's central bank, increased its policy rate from 0.75% to 1% to cool inflation. The move comes as global energy prices have surged, pushing Japan's wholesale prices up over 6% in May.

By BriefTea Editorial · 16 June 2026 at 9:43

Reported by BBC · How we write briefs