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The Bank of Japan raised interest rates to a 31-year high on Friday (Sep 18). The widely expected move, which was the first hike in three months, takes interest rates closer to levels the BOJ deems neutral to the economy. Norihiro Yamaguchi, lead economist at Oxford Economics, shares his views on CNA’s Asia Now.
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<br>Data released by Japan's Ministry of Finance on September shows that foreign exchange reserves fell by $79.575 billion—a sharp 6.18% drop—in August, marking the largest monthly decline on record.
<br>Meanwhile, the value of securities held within the reserves declined for the fourth consecutive month, decreasing by $87.773 billion during the month.