BANK OF JAPAN RAISES INTEREST RATE TO 0.50%

BANK OF JAPAN RAISES INTEREST RATE TO 0.50%
The Bank of Japan (BoJ) raised its short-term interest rate by 25 basis points.
The new rate range is 0.40%-0.50%, up from 0.15%-0.25%.
This decision followed the conclusion of the BoJ's two-day monetary policy review.
The rate hike was anticipated by the market.
The BoJ's new rate is the highest since 2008.
This is the first increase after holding the rate steady for three consecutive meetings.