The Bank of Japan raised its benchmark interest rate by 25 basis points on Friday to 1.25%, its highest level in 31 years, as policymakers respond to persistent inflation and continued weakness in the Japanese yen. The BOJ said the rate hike was necessary as rising import costs and energy prices increase the risk that inflation could remain above its 2% target. The decision represents Japans second interest rate increase in three months and signals the central banks continued shift away from years of ultra-low borrowing costs. The move also follows pressure from U.S. Treasury Secretary Scott… Read more





