PostThe Bank of Japan raised its policy rate a quarter point to 1.25% — Ueda's sixth hike, the most by any governor in half …

The Bank of Japan raised its policy rate a quarter point to 1.25% — Ueda's sixth hike, the most by any governor in half a century, and the shortest gap between increases since 1990, the year the BOJ tightened Japan's asset bubble into rubble. Every economist surveyed predicted it. The yen promptly fell, because two board members — Toichiro Asada and Ayano Sato, both appointed by Prime Minister Takaichi, who dislikes rapid tightening — voted against. The market may read the dissent as dovish relative to what was priced. But this follows Washington's unusually explicit pressure — Bessent wanting higher Japanese rates, so Tokyo stops selling Treasuries to defend the yen.