BOJ Hikes Interest Rate to 1.25% Amid Surprise Move

The Bank of Japan (BOJ) has increased its key interest rate to 1.25%, marking the highest level in 31 years.

This decision comes as a surprise, given previous predictions that the BOJ would hold off on raising interest rates until later this year or early next year.

The increase is expected to have significant implications for the Japanese economy, with some analysts predicting it will help control inflation and boost economic growth.