The Bank of Japan (BOJ), Japan's central bank, decided to end its negative interest rate policy at the Monetary Policy Meeting held on the 19th.
On this day, the BOJ announced that it would raise the short-term policy interest rate from -0.1% to 0~0.1%.
It will also terminate major monetary easing policies such as Yield Curve Control (YCC), which suppresses long-term interest rates, and purchases of Exchange-Traded Funds (ETFs).
This is the first time in 17 years since February 2007 that the BOJ has raised interest rates.
The Nihon Keizai Shimbun reported that BOJ Governor Ueda Kazuo will explain the specific details of the decision at a press conference in the afternoon.
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