The yen strengthened and Japanese government bond yields rose to fresh multi-year highs on Friday after the Bank of Japan hiked interest rates as expected and raised its inflation forecasts.

The Bank of Japan raised interest rates on Friday to their highest since the 2008 global financial crisis and revised up its inflation forecasts, underscoring its confidence that rising wages will keep inflation stable around its 2% target.

The Japanese yen is slightly lower on Thursday. In the European session, USD/JPY is trading at 156.25, down 0.16% on the day.

The Bank of Japan hiked interest rates to 0.5%, the highest level since October 2008, and pledged to raise rates further if the economy and inflation continue in line with projections. The bank’s pledge to seek more rate hikes sent Japanese government bond yields higher and boosted the yen.

The Japanese Yen (JPY) remains on the back foot against its American counterpart, with the USD/JPY pair eyeing the 156.00 mark during the early European session on Tuesday. US President Donald Trump reiterated his push for higher universal tariffs,

USD/JPY faces pivotal week as BoJ rate hike, inflation data, and Trump’s policies loom. Key levels at 150 and 160 in focus amid market volatility.

The Bank of Japan raised its key interest rate to about 0.5% from 0.25% Friday, noting that inflation is holding at a desirable target level. “The economy is gradually recovering,” BOJ Gov. Kazuo Ueda told reporters after a two-day policy board meeting in Tokyo.

Japan's Sumitomo Mitsui Financial Group reported a 54 per cent increase in third-quarter net profit on Wednesday, buoyed by a boost in interest income.The net profit rose to 410.8 billion yen ($2.65 billion) in the October-December period,

The Bank of Japan increased ... sending the yen higher against the dollar. The well-flagged 25-basis-point rise to 0.5 percent comes as data indicates the Japanese economy is developing in line ...

(Bloomberg) -- The yen is primed for further gains after the Bank of Japan sent hawkish signals while raising the benchmark interest rate, according to strategists. The upward revision in ...

BoJ, Fed, and RBA policies dictate USD/JPY and AUD/USD paths. Global trade and China’s economy amplify forex market volatility.

Japan's central bank has raised its key interest rate to ... The U.S. dollar fell to 155.41 Japanese yen from about 156 yen earlier in the day. A rate rise in July last year sent stock prices ...