Japan raises interest rate to highest since 1995
The Bank of Japan raised its main interest rate to 1%, the highest level since 1995, as the country shifts away from decades of near-zero rates. The move is intended to combat inflation exacerbated by rising global energy costs linked to the Iran war.
Why it matters
Japan's departure from long-term ultra-loose monetary policy signals a significant shift in the global economic landscape.
Share Save Add as preferred on Google Peter Hoskins Business reporter AFP via Getty Images Japan s central bank has increased its main interest rate to a new 31-year-high after a surge in global energy prices.
The article provides a balanced economic analysis of the BOJ's decision and its potential trade-offs.
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