Bank of Japan decides to raise interest rates, but yen continues to weaken; difficult response due to price controls

The Bank of Japan decided to raise interest rates for the first time since December last year at its monetary policy meeting held until the 16th. The aim is to quickly respond to the rise in prices caused by the worsening situation in Iran, but the Bank of Japan is likely to continue to have difficult policy management even after the interest rate hike, as the yen continues to weaken in the foreign exchange market, pushing up prices.