Global Stocks Edge Higher Amid Central Banks' Inflation Fight

The global stock market index rose slightly on Friday as investors weighed the impact of central banks' efforts to combat inflation.

Central banks around the world, including the Federal Reserve and the Bank of Japan, have been raising interest rates in an attempt to control rising prices. The move has led to a rise in yields across major government bond markets, with the 10-year US Treasury yield reaching its highest level since 2007.

The BOJ raised its key lending rate to 1.25%, the highest level in 31 years, despite two board members dissenting from the decision. The move sent the yen weaker against the dollar, which rose 0.50% to 156.76 per dollar.