The Bank of Japan is set to raise prices to 0.75%, the highest level in 30 years: Nikkei

The Bank of Japan (BOJ) is expected to raise the benchmark interest rate to 0.75%, marking the highest level in three decades, according to a Nikkei report. The decision is likely to be finalized at the BOJ's upcoming monetary policy meeting on December 18-19, as policymakers are moving closer to normalizing Japan's excessively accommodative monetary stance. First interest rate hike in nearly a YearIf implemented, this move would mean an increase of 25 basis points from the current policy rate of 0.5%, and the first rate hike since January 2025, which ended an 11-month pause. The rate of 0.75% would also be the highest for Japan since 1995, highlighting a historic shift for an economy long linked to near-zero interest rates.