Bank of Japan hikes to 31-year high, RBA odds surge on Bullock testimony
The Bank of Japan raises its policy rate to 1.25%, the fastest hiking pace since 1990, and the yen falls anyway. RBA governor Michele Bullock tells parliament inflation risks are "materialising," pushing hike odds for 29 September above 90%. Wall Street claws back most of its Fed-hike losses as oil slips on hints of an Iran deal.
