Bank of Japan set to raise policy rate to 1.25% next week

Facing inflationary pressure, central bank accelerating pace of rate hikes Bank of Japan Gov. Kazuo Ueda speaks to reporters in Tokyo on July 31. (Photo by Marie Yoshimura) TOKYO — The Bank of Japan plans to raise its key interest rate to 1.25% from the current 1% at its policy board meeting on Sept. 17 and 18 in a bid to contain inflationary pressure amid rising crude oil prices and the depreciation of the yen, Nikkei has learned. With the rate last raised in June, the possible increase will mark the shortest span of months in the current rate hiking phase that started in March 2024.

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