Bank of Japan raises rates to 1%, highest since 1995

The Bank of Japan has increased its interest rates to 1%, marking the highest level since 1995. According to BofA, this decision was driven by persistent inflation risks. Although the move was implemented, it occurred despite some dissent within the organization. This policy shift reflects the central bank's current strategy to manage economic pressures and price stability, bringing rates to a peak not seen in nearly three decades for the Japanese financial system.