BOJ Raises Rates for First Time in 17 Years, Yen Weakens, Further Hikes Possible This Year

• BOJ scrapped negative interest rate policy, raising rates for first time in 17 years • Attention turning to whether BOJ will implement more rate hikes before end of year • Yen weakening sharply after BOJ announcement • Some expect central bank forced to act sooner rather than later • Hawks see possible summer move if inflation resurges; doves look beyond 2024