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The Bank of Japan raised its money-market guideline to around 1.0%, a 25 bp move from 0.75%, with a 7-1 Policy Board vote. The statement tied the move to faster crude-oil pass-through, rising medium- to long-term inflation expectations and still-negative real rates.

The Bank of Japan kept the overnight call-rate target at around 0.75% in a 6-3 vote and lifted its FY2026 core CPI view to 2.5%-3.0%. The April outlook said an oil shock tied to the Middle East would slow growth in 2026 even as inflation risks skew upward.