The fading shadow of reflationists in the Bank of Japan, and the latest addition to the board of an academic favouring an end to ultra-low interest rates, will likely bring the central bank's thinking closer to global peers taking a more conventional approach on monetary policy.

All outstanding loans from the central bank's fund-provisioning program to stimulate bank lending are expected to be wiped off its books by March 2028.

Bank of Japan board members discussed how to use estimates on the economy's neutral interest rate to determine further hikes in borrowing costs, with one saying the BOJ's policy rate was still far from that level,

Some Bank of Japan policymakers began to lose faith in the power of former Governor Haruhiko Kuroda's "bazooka" stimulus less than two years after its introduction, with a decision to ramp up the programme in 2014 made by a narrow 5-4 vote,

The Bank of Japan will likely raise interest rates again around June or July, and seek to triple its policy rate to at least 1.5% in the next two years, former BOJ board member Makoto Sakurai said on Tuesday.

The Bank of Japan made a significant step toward shrinking its massive balance sheet last week, while market watchers were fixated on the biggest interest rate increase from the central bank in 18 years.

The Bank of Japan is likely to have two women on its decision-making board for the first time, marking a modest step toward improving gender diversity at the central bank as it struggles to catch up with global peers.

TOKYO (Reuters) - The Japanese government on Tuesday nominated Waseda University political science and economics professor Junko Koeda to join the Bank of Japan's nine-member board. Koeda would replace former economist Seiji Adachi, whose five-year term ends on March 25.

Japan's central bank has raised its key interest rate to about 0.5% from 0.25%, noting that inflation is holding at a desirable target level.

Japan's central bank has increased the cost of borrowing to its highest level in 17 years, after consumer price rises accelerated last year. The move by the Bank of Japan (BOJ) to raise its short-term policy rate to 0.5% comes just hours after the latest economic data showed prices rose last month at the fastest pace in 16 months.

World shares advanced Friday after U.S. stocks rose to a record and the Bank of Japan raised its key lending rate.

Prime Minister Shigeru Ishiba’s government nominated female economist Junko Koeda to replace Seiji Adachi on the BOJ policy board, according to a statement distributed by a parliamentary committee Tuesday.