BOJ May Hike Rates Faster as Yen Sinks to 40-Year Low

Bank of Japan officials are open to raising rates faster than markets expect, Reuters and Bloomberg reported July 22. The yen hit 163 per dollar on July 21 — a four-decade low — before rebounding on the news. The BOJ's policy rate sits at 1%, a 31-year high. Currency-driven inflation is the trigger.