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Bank of Japan raises interest rate to 1.25%, a 31-year high

Bank of Japan raises interest rate to 1.25%, a 31-year high

B2🇨🇳 中文🇺🇸 English

September 18th, 2026

Bank of Japan raises interest rate to 1.25%, a 31-year high

B2
Please note: This article has been simplified for language learning purposes. Some context and nuance from the original text may have been modified or removed.

🇺🇸 English

On Friday, the Bank of Japan raised its benchmark interest rate from 1.0% to 1.25%.

日本央行周五将基准利率从1.0%上调至1.25%。

This is the highest level in 31 years.

这是31年来的最高水平

For many years, the Bank of Japan kept interest rates at zero or below zero.

多年来日本央行一直把利率维持在零或零以下

It did this to encourage borrowing and spending, and to fight deflation.

这样做是为了鼓励借贷和支出对抗通货紧缩

Now, the bank is trying to move its monetary policy back to normal.

如今该行正试图推动货币政策正常化

The rate that was raised is the uncollateralized overnight call rate.

此次上调的无担保隔夜拆借利率

The decision was announced at the end of a two-day monetary policy committee meeting.

这一决定为期两天的货币政策委员会会议结束时公布

The public and global markets had already widely expected this result.

外界全球市场此前广泛预期这一结果

Bank of Japan Governor Kazuo Ueda said the decision was made after reviewing many risks.

日本央行行长上田和夫表示这一决定是在审视多种风险后作出的。

These risks include the war in Iran, growing demand in the AI market, and exchange rate swings.

这些风险包括伊朗战争人工智能市场需求扩大以及汇率波动

He said Japan's economy is continuing to recover gradually, and inflation is now near the 2% target.

他说日本经济正在继续逐步复苏通胀已接近2%的目标水平

Ueda said that two of the nine policy board members voted against the decision.

上田表示九名政策委员会成员中有两人反对

They were worried about the strength of Japan's economic growth.

他们对日本经济增长的力度感到担忧

When asked about further rate hikes, Ueda stressed that more time was needed.

当被问及进一步加息时上田强调需要更多时间

He said they need to judge whether price rises are stable. They also need to watch wage growth and other risks.

他说要判断物价上涨是否稳定同时还要监测工资增长和其他风险

Analysts think there may be another rate hike later this year or early next year.

分析人士认为今年晚些时候或明年年初可能还会再次加息

The U.S. Federal Reserve also raised its key interest rate this week.

美国联邦储备委员会本周上调了关键利率

This was the first time since 2023.

这是自2023年以来的首次

Worried about the weak yen, the U.S. has been pressing Japan to raise rates.

由于担心日元走弱美国一直向日本施压要求加息

The two countries also recently joined forces to intervene and support the yen.

两国最近联手干预以支撑日元

Despite the Bank of Japan's action, the dollar still rose above 157 yen at one point.

尽管日本央行采取了行动美元一度升至157日元上方

S&P Global Market Intelligence economist Harumi Taguchi said high crude oil prices are a factor. She said the BOJ is expected to raise rates sooner rather than later.

标普全球市场财智经济学家田口晴美表示由于原油价格高企预计日本央行会尽早而非推迟进一步加息

She also said that higher rates could drag down the economy.

她还说更高的利率可能拖累经济

This is because borrowing costs for small and medium-sized firms are rising, and mortgage rates are also going up.

这是因为中小企业借贷成本加重,房贷也在上升

Analysts are also worried about the aggressive spending of Prime Minister Sanae Takaichi's government.

分析人士还担心首相高市早苗政府的激进支出

This spending includes tax cuts and large defense investment, at a time when public debt is swelling.

这些支出包括减税大幅国防投资而此时公共债务正在不断膨胀

After the decision was announced, Tokyo's Nikkei 225 index rose 1.4%.

决定公布后东京日经225指数上涨1.4%

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