'Japan's PM hopes to boost growth through public spending. Higher borrowing costs threaten her plans'

Why this matters: an international story with cross-border implications worth tracking.

The Bank of Japan, the last major central bank to maintain ultra-low interest rates, raised its key rate by a quarter point on Tuesday, bringing it to 1%, the highest level since 1995. This move could dampen business activity and increase the public debt burden, says columnist Isabelle Chaperon.