Japan Hikes Interest Rate to 31-Year High Amid Inflation Fears
The Bank of Japan has raised its key interest rate to a 31-year high of 1.25% after voting 7-2 in favor of the decision.
This increase is the result of concerns about inflation, which rose to an annualized rate of 1.9% in August, exceeding the central bank's target of 2%.
The interest rate hike was widely expected by economists and analysts, with a 90% chance predicted by financial markets.