BOJ Raises Rates to 31-Year High, Markets Expect Further Hikes

The Bank of Japan (BOJ) raised interest rates to their highest level in 31 years, increasing them by 25 basis points to 1.25% on Friday.

This move was widely expected and comes as the BOJ attempts to address concerns about inflation overshooting its 2% target.

Board members Toichiro Asada and Ayano Sato dissented from the decision, voting against the rate hike.