Japan raises interest rates to a 31-year high
Japan has pushed interest rates to 1.25%, the highest in 31 years, and Governor Ueda says more increases are coming. The decision came as Ueda said the economy should keep growing and underlying inflation is nearing 2%. After decades of near-zero borrowing costs, Japan is entering a sustained tightening cycle that could reshape the yen, government debt and financing costs across the world's fourth-largest economy.
Japan has pushed interest rates to 1.25%, the highest in 31 years, and Governor Ueda says more increases are coming. The decision came as Ueda said the economy should keep growing and underlying inflation is nearing 2%. After decades of near-zero borrowing costs, Japan is entering a sustained tightening cycle that could reshape the yen, government debt and financing costs across the world's fourth-largest economy.
