BOJ Hikes Rate to 1.25%
The Bank of Japan has raised its benchmark interest rate to 1.25% in an effort to control inflation.
This move marks a significant shift in monetary policy for the BOJ, which had maintained its negative interest rates since 2016.
According to FT.com, the central bank's decision is aimed at curbing rising prices and stabilizing the economy. The rate hike comes as Japan struggles with inflation, which has been driven by supply chain disruptions and a strong yen.