Global Interest Rates Rise Amid Ongoing Economic Uncertainty

The Bank of Japan raised its policy rate by 25 basis points to 1.25%, taking borrowing costs to their highest level since 1995, but the yen weakened sharply after the decision.

The Federal Reserve also raised interest rates by 25 basis points to 3.75%-4.00% in a unanimous vote, with Chair Kevin Warsh stating that inflation was still too high and had been so for too long.

The Bank of England left its policy rate unchanged at 3.75%, but the Monetary Policy Committee signaled readiness to tighten further if necessary, citing higher energy prices as a key risk factor.