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Indonesia News Portal for Traders | Financial & Business Updates

24 January 2025 14:19  |

Japanese Shares End Flat in Volatile Trading After BOJ Rate Hike

Japanese shares ended flat on Friday as the yen strengthened in volatile trading after the Bank of Japan's widely expected rate hike, which lifted rates to their highest level since the 2008 financial crisis.

The Nikkei 225 edged down 0.06%, or 21.80 points, to close at 39,937.07.

The yen firmed at 155.45 per US dollar, approaching the one-month high of 154.78 hit earlier this week.

The Bank of Japan raised interest rates to 0.5%, marking its first hike since July and the highest since 2008. The 8-1 decision, with Toyoaki Nakamura dissenting, signaled confidence that rising wages would anchor inflation near its 2% target.

Economic data showed Japan's core inflation reached 3% in December 2024, up from 2.7% in November, exceeding the BOJ's 2% target for the 36th consecutive month. Headline inflation climbed to 3.6%, the highest since February 2023.

Source: Bloomberg

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