Japan’s central bank raises interest rates to highest level since 1995 (opens original article in a new tab)

Japan’s central bank raised interest rates to 1 percent, the highest level since 1995, as it continues to move away from decades of ultra-low borrowing costs amid inflation concerns linked to global conflicts and rising oil prices.

• Bank of Japan raises benchmark rate to 1 percent, the highest since 1995
• Central bank cites price pressures from US-Israel war on Iran and rising oil prices
• BOJ shifts away from decades of ultra-low borrowing costs to combat inflation