Bank of Japan set to hike key interest rate to 1%

TOKYO — The Bank of Japan is set to raise its key interest rate to 1% from the current 0.75% at its upcoming policy board meeting on June 15 and 16, Nikkei has learned, as the Japanese economy faces upside inflation risks. The central bank is also considering pausing the tapering of its government bond purchasing program, starting in April 2027.