Japan Raises Interest Rates to 31 Year High to Curb Impact of Rising Prices The Bank of Japan (BoJ) has raised interest rates for the first time in over three decades, aiming to curb the impact of rising prices linked to global economic conditions.
This move marks a significant shift in monetary policy, with the BoJ joining its peers in tightening credit to combat inflation. At 1.
25%, the new target interest rate is a fresh 31 year high, surpassing levels seen since 1995. The decision was not unanimous, with two of the nine board members dissenting against the increase.