Business

The Bank of Japan voted to raise its target interest rate to a 31-year high, lifting it from 1% to 1.25%, and signaled further potential tightening despite yen weakness and dovish dissent, in an effort to curb rising inflationary pressures driven by high energy costs.

• Japan raises interest rate to a 31-year high.
• Move is aimed at curbing rising prices caused by high energy costs.
• Bank of Japan raised target interest rate from 1% to 1.25%
• Rate reaches highest level since 1995
• The Bank of Japan raised its benchmark interest rate.
• Governor Kazuo Ueda signaled openness to further policy tightening.
• Dissenting votes introduced a dovish signal contrary to some international expectations.