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Bank of Japan raises rates, but yen struggles
The Bank of Japan raised its
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The Bank of Japan raised its key interest rate this morning from 0.50% to 0.75%, marking the highest level in 30 years. As a result, the yield on 10-year government bonds crossed 2% for the first time since 1999, leading to a sell-off in bonds. The Bank of Japan adopted a relatively hawkish tone, indicating its readiness to continue tightening monetary policy as part of normalization efforts. Meanwhile, data released just before the BoJ meeting showed that the Consumer Price Index (CPI)
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