Japon Taux d'intérêt

Officials at the Bank of Japan broadly agreed that further interest-rate increases and a gradual reduction in monetary accommodation are appropriate to achieve sustainable price stability, according to the Summary of Opinions from the BoJ’s December meeting. Policymakers expressed increasing confidence that Japan can sustain a virtuous cycle in which moderately rising wages and prices reinforce the baseline outlook for economic growth and inflation. Board members pointed to solid corporate profits as a key factor supporting continued wage increases, while noting that inflationary pressures are likely to persist under current financial conditions, particularly owing to currency-related effects. Several policymakers warned that delaying action until a future meeting would pose “considerable risk,” as real interest rates remain well below their equilibrium level. The BoJ raised its policy rate by 25 basis points to 0.75% at its December meeting, marking the highest level since 1995.