Japan raises interest rate to highest since 1995 (opens original article in a new tab)

Japan's central bank increased its interest rate to 1%, the highest level since 1995, as part of efforts to address inflation and return to normal monetary policy.

• Japan's central bank raised its main interest rate to 1% from 0.75%
• This is the highest rate since 1995 due to rising global energy prices
• The BOJ aims to transition to normal monetary policy after 20 years of deflation