BOJ Unleashes Fastest Rate Hike Since '90 Amid Inflation Fears

The Bank of Japan (BOJ) has taken its most aggressive action in decades to combat rising inflation, hiking its benchmark interest rate by a quarter point to 1.25%.

This move is significant as it marks the fastest pace of rate hikes since 1990 and comes at a time when Washington is urging further normalization of monetary policy.

The BOJ's decision was widely expected, with all economists surveyed by Bloomberg predicting the rate hike. However, two board members, Toichiro Asada and Ayano Sato, dissented from the majority vote.