Bank of Japan lifts rates to 31‑year high as Middle East war fuels inflation fears (opens original article in a new tab)

Bank of Japan increased interest rates to a 31-year high of 1.0% amid inflation concerns linked to the Middle East war, while noting ongoing risks from rising oil prices and global economic pressures.

• Bank of Japan raised benchmark rate 25 basis points to 1.0%
• Central bank cited Middle East war and rising oil prices as inflation drivers
• Yen briefly strengthened against dollar after rate hike
• BoJ plans to continue raising rates and adjust monetary policy