ECB raises policy rate by 0.25%, first hike in two years and nine months, boosting yields.
Impact on assets 5
ECB rate hike lifts euro-area yields, including German bunds.
BOJ raises rates from 0.75% to 1.0%, supporting JGB yields.
ECB rate hike supports euro, but BOJ hike may restrain euro buying; net effect ambiguous.
BOJ rate hike strengthens yen, but ECB hike may support euro; net effect ambiguous.