The Bank of Japan will announce its interest rate decision between 10:30 AM and 12:30 PM, and Governor Kazuo Ueda will hold a press conference at 2:30 PM. Currently, the market predicts a 98% probability that Japan will raise rates by 25 basis points. If this occurs, the benchmark interest rate will rise from 0.50% to 0.75%, reaching its highest level since 1995.
This means Japan will officially bid farewell to a 30-year era of extremely low interest rates. As a significant global economy, Japan's interest rate hike may trigger changes in global capital flows, potentially impacting the previously anticipated interest rate cuts by the Federal Reserve and capturing the attention of global financial markets.
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