Central Banks
‘Blockbuster’ BOJ Decision Puts Ueda on Risky Path to More Hikes
- Japan’s fragile transformation may still unravel if yen surges
- Rate hike may offer little help to Kishida ahead of party vote
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Bank of Japan Governor Kazuo Ueda cemented his credentials as the country’s great normalizer by doubling down on efforts to drag the central bank away from the experimental fringes of global policymaking toward a more orthodox stance.
The BOJ chief and his board Wednesday raised rates for the second time this year and unveiled plans to slash in half its bond purchases after a debt-buying binge of more than a decade.