BoJ Hikes Interest Rates to 31-Year High Amid Global Economic Challenges

The Bank of Japan (BoJ) has raised its key benchmark interest rates to their highest level in over 31 years, touching 1.25% for the first time since 1995.

This move comes as part of a global trend of central banks increasing interest rates to combat rising inflation and economic challenges such as a weaker Yen and declining workforce in Japan.

Market experts expect BoJ to continue raising rates, citing new inflation concerns due to the global energy price spike in a country with historically low inflation.