Bank of Japan raises its key interest rate to a three-decade high of 1%, citing inflation (opens original article in a new tab)

The Bank of Japan increased its benchmark interest rate to 1%, the highest in three decades, due to inflationary pressures from the Middle East conflict and a weak yen.

• Bank of Japan raised its key interest rate to 1%
• The rate increase is the highest in three decades
• Inflation pressures from Middle East conflicts and weak yen influenced the decision