Bank of Japan decided to raise its policy interest rate from 0.5% to 0.75%, the highest level in 30years since 1995.
One factor behind this is the weak yen and rising prices. However, as the market had already priced in an interest rate hike, the yen remains weak at around 156yen to the dollar.
Meanwhile, long-term interest rates, which serve as the benchmark for fixed mortgage rates, briefly exceeded 2%, reaching the highest level in approximately 26years.
-Bank of Japan Governor Kazuo Ueda,
"Regarding future monetary policy, given that real interest rates are currently at extremely low level