Japan

The Bank of Japan raised its benchmark interest rate to 1.0 percent from 0.75 percent, the highest in 31 years, at its June 2026 board meeting, citing inflation risks and a weak yen. Governor Kazuo Ueda was absent due to hospitalization for a hepatic cyst infection. The bank also announced a slowdown in government bond purchase reductions starting April 2027.

A powerful earthquake has struck Japan's Gunma and Saitama prefectures, according to the Japan Meteorological Agency (JMA).

Tokyo stocks rose sharply on June 18 after U.S. President Donald Trump and Iranian President Masoud Pezeshkian signed a memorandum of understanding aimed at ending their countries' conflict, analysts said. The Nikkei index gained 1,151.24 points to close above 71,000 for the first time.

Japan's government has issued an emergency earthquake warning for Miyagi, Aomori, Iwate, Fukushima, and Akita prefectures.