BOJ Prepares for Fastest Interest Rate Hike Cycle Since 1990

Japan's economic transformation is facing its fastest sequence of interest rate hikes since the bursting of Tokyo's asset bubble in 1990. The Bank of Japan (BOJ) is set to raise benchmark borrowing costs for the third time in less than 10 months at its meeting on Friday.

This would mark the fastest pace of interest rate hikes since the country was a rival to US global economic dominance. The move comes amid pressure from US Treasury Secretary Scott Bessent, chronic weakness in the yen, and rising prices.

The BOJ's decision is expected to have significant implications for Japan's economy, which has been recovering from years of stagnation.