Japan Raises Benchmark Interest Rate to 31-Year High
Japan's central bank, the Bank of Japan, has raised its benchmark interest rate to 1.25%, marking a significant milestone in the country's monetary policy shift.
The move is part of the bank's effort to normalize interest rates after decades of keeping them near or below zero to combat deflation and stimulate economic growth.
This marks the highest interest rate in Japan since 1991, when it was last raised.