Bank of Japan raises rates to levels unseen since 1995

The Bank of Japan (BOJ) raised interest rates on Friday to levels unseen in three decades and signalled its readiness for further hikes, taking another landmark step in ending decades of huge monetary support and near-zero borrowing costs. It also removed language that growth and inflation will stagnate due to the impact of higher US tariffs, underscoring the central bank’s conviction that Japan was on course to stably hit its 2 per cent inflation target backed by wage gains, and ready for a...