Bank of Japan raises rates
The Bank of Japan raised interest rates while signaling a cautious approach compared to global peers. Meanwhile, Middle East conflicts pressured oil prices near one hundred dollars per barrel.
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Japan raised interest rates by raising borrowing costs during Friday morning trade, softening the USD/JPY exchange rate as the central bank adopted a less hawkish tone than global peers. The move breaks a pattern of twice-yearly rate increases, coming just three months after the prior hike. Global rate-hiking cycles have accelerated past Tokyo's pace, leaving investors pricing in nearly three more hikes in the United States by mid-2027.
