Interest rates will hit a 30-year high! The Bank of Japan is ready to raise rates in December, and the yen strengthens in response.

According to the Zhitong Finance and Economics app, informed sources revealed that the Bank of Japan is prepared to raise interest rates at its policy meeting later this month, provided that there is no major impact on the economy or financial markets during this period. The sources stated that the Bank of Japan will also indicate that if its economic outlook is achieved, it will continue to raise interest rates, while remaining cautious about how high interest rates will ultimately be raised. Boosted by this news, the Japanese yen strengthened. As of the time of publication, the exchange rate of the Japanese yen against the US dollar rose by 0.36% to 154.58 yen to 1 US dollar.