BOJ Set to Deliver Fastest Rate Hike Since 1990 on Friday

The Bank of Japan (BOJ) is set to raise its benchmark interest rate on Friday, marking the fastest pace since 1990. According to Bloomberg's survey of BOJ watchers, all respondents expect the central bank to hike its policy rate to 1.25% from 1%. This would be the second rate increase in three months, with the shortest interval between hikes since March 1990.

The decision comes as upside inflation risks persist, prompting calls for action from Washington. The BOJ's move is expected to be closely watched, particularly given its unusual timing and potential implications for global markets.