BOJ Told to Hike Interest Rates Amid Yen Plunge

Bank of America has suggested that the Bank of Japan should increase interest rates to stabilize the yen. According to the bank, raising interest rates may be necessary to curb the currency's decline and prevent a further devaluation. The proposed rate hike is expected to reach 2% by July 2027.

The recommendation comes as the yen continues to plummet against major currencies, sparking concerns about Japan's economic stability.