BOJ Raises Benchmark Rate to 1.25% Amid Inflation Concerns

The Bank of Japan (BOJ) has raised its benchmark interest rate to 1.25%, marking the highest level since 1995.

This move comes amid high inflation and a weaker yen, which has been a significant concern for the Japanese economy.

The BOJ's policy board, led by Governor Ueda Kazu, voted in favor of the rate hike by a 7-2 majority.

The decision was widely anticipated by markets, with some predicting that the BOJ would tighten its monetary policy to combat inflation and stabilize the currency.