Bank of Japan Raises Rate to 1.0%: a 31-Year High, Decided Without Its Governor
On June 16 the Bank of Japan raised its policy rate to 1.0%, the highest in 31 years, with Governor Ueda hospitalized and absent. We unpack the 7-1 vote, the lone hiker among major central banks, the still-weak yen, and Japan's swelling debt-service bill.