Bank of Japan raises key interest rate by 25 bp to 30-year high

The Bank of Japan has raised its key interest rate by 25 basis points as expected, moving it from 0.5% to 0.75%. This marks the highest level for the rate in 30 years, since 1995. The central bank ended its 17-year negative interest rate policy in March of last year by raising the rate to 0.1%. It followed with gradual increases to 0.25% in July of last year and to 0.5% in January of this year.