BOJ Raises Rate to 31-Year High Amid Yen Weakness

The Bank of Japan (BOJ) has raised its policy rate to a 31-year high, increasing it by 25 basis points to around 1.25%.

This decision comes just three months after the last increase and marks the highest level since 1995.

According to Governor Kazuo Ueda, the central bank will 'continue to raise the policy rate' but at a slower pace, citing concerns about market volatility.

The BOJ's move is aimed at addressing upward pressure on prices due to a weak yen and rising oil prices.