Bank of Japan Raises Interest Rates to Highest Level Since 1995
Rising inflation and higher energy costs prompted Bank of Japan policymakers to lift borrowing costs.
TL;DR
- Japan's central bank increased its benchmark interest rate to about 1 percent.
- This is the highest interest rate in Japan since 1995.
- The decision is a response to rising inflation and energy costs.
- The central bank is monitoring the economic impact of the Middle East conflict on energy supplies and oil prices.