Key facts
- The Bank of Japan raised its policy rate by 0.25% to 1.25%.
- Japan's consumer inflation in August was lower than expected.
- The yen was trading at around 157.50 against the dollar on Friday.
The yen weakened against the dollar in Tokyo on Friday, trading at around 157.50 against the greenback after repeated attempts at recovery faded. The market is trying to assess the pace and scale of any further Bank of Japan policy tightening following a quarter-point interest hike earlier in the day. Japan's consumer inflation data for August was reported to be lower than anticipated, further dampening hopes for more aggressive rate hikes.