Forex
BOJ Rate Hike Triggers Yen Decline Amid Dissent
The Japanese yen extended its decline against the US dollar after the Bank of Japan's interest rate hike, as expected. The move was predicted by all economists surveyed by Bloomberg.
Despite being forecasted, the decision was not unanimous, with two board members dissenting from the policy tightening. Toichiro Asada and Ayano Sato voted against raising interest rates, casting doubt on further policy actions.
The yen fell as much as 0.7% to 157.09 per dollar in response to the rate hike. The vote was 7-2, with seven members supporting the decision and two opposing it.