It is the highest level since October 2008 as the economy makes steady progress toward the bank’s goal of stable 2% inflation and wage-backed growth.
Japan's Prime Minister Shigeru Ishiba stressed on Friday the importance of close ties with the United States for regional stability, as he seeks to arrange a meeting with President Donald Trump.
Global shares rose on Friday buoyed by the prospect of lower U.S. interest rates and a U.S.-China trade deal following comments from President Donald Trump, while the yen was choppy after the Bank of Japan delivered a widely expected rate hike.
Japan’s central bank has hiked interest rates as expected to a 17-year high as it continues on a path to normalise its monetary policy. On Friday (Jan 24), the Bank of Japan (BOJ) raised short-term rates by 25 basis points to 0.5 per cent, its highest level since the 2008 global financial crisis.
This country has the the largest nominal GDP in Asia and the second-largest globally, behind the USA with $30.33 trillion (£24 trillion).
Japanese electric motor maker Nidec posted a 5% rise in third-quarter operating profit on Thursday to 54.5 billion yen ($348 million), compared to 51.8 billion yen in the same period a year earlier.
Prime Video has named Keisuke Oishi as its new country manager for Japan, effective Jan. 20. The veteran Amazon executive, who most recently served as director and general manager of Amazon Music Japan, will report to Gaurav Gandhi, VP of Prime Video Asia Pacific, Middle East and Africa. He replaces Kodama Takashi.
Japan will continue to strengthen its defence capabilities given the security situation in East Asia, Japan's foreign minister told his U.S. counterpart in a meeting on Tuesday, his spokesperson said.
Japanese exports rose 2.8% year-on-year in December, up for a third straight month, data from the Ministry of Finance showed on Thursday.
Kitakyushu is the northernmost city on Japan’s Kyushu Island. IDC Frontier Inc., a subsidiary of SoftBank since 2018, opened a data center in Kitakyushu in 2008. According to the company, the campus can be expanded to 11 buildings; the sixth opened in 2017.
Japan PM Ishiba is seeking to arrange a meeting with US President Donald Trump. Read more at straitstimes.com.