"Bank of Japan Makes Historic Interest Rate Hike, Abolishes Negative Rate Policy"

The Bank of Japan raised its short-term interest rates for the first time in 17 years, ending its negative rates regime and abolishing its yield curve control policy. The central bank also announced plans to reduce purchases of exchange-traded funds, Japan real estate investment trusts, and corporate bonds, while continuing its purchases of Japanese government bonds. The move comes as Japan sees signs of robust wage gains and more sustainable price growth, with the central bank aiming to fuel inflation through higher salaries and domestic demand.