What is the use of Japan raising interest rates? After the increase, it still doesn't match the rate of the US after their cuts. Look at the rates: normal people will still save in the US. The US is at 4.75, and after a 25 basis point cut, it will be 4.50. Japan is at 0.25, and after a 25 basis point increase, it will be 0.5. What good does it do?