Yen weakens across board after BOJ delivers rate hike

THE BANK OF Japan raised its benchmark interest rate to the highest in 30 years and signalled more hikes are likely in the pipeline, yet the yen weakened from disappointment that the messaging from the central bank wasn't stronger.

- TORU FUJIOKA

Governor Kazuo Ueda's policy board increased the rate by a quarter percentage point to 0.75% in a unanimous decision, according to its statement Friday.

The central bank cited the rising likelihood of its economic outlook being realised, and pointed to data showing solid wage growth momentum and receding risks from US tariffs. The rate change was expected by all 50 economists surveyed by Bloomberg.