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Satsuki Katayama

Satsuki Katayama

Finance Minister of Japan

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BOJ pushes rates to 0.75%: Japan’s “free money” era starts getting expensive

Rule Changes

Warning markets against disorderly yen moves and keeping intervention language active as BOJ tightening fails to immediately support the currency

Japan's shift away from ultra-easy money is now colliding with the currency market. After raising rates to 0.75% on December 19, 2025, Governor Kazuo Ueda stressed real rates remain 'very low' or negative and the BOJ will pace tightening while responding flexibly to exceptional long-term yield moves.

Updated Yesterday