Bank of Japan raises interest rates to 31-year high amid Iran war inflation pressures

Country follows ECB in increasing borrowing costs, but US Fed and Bank of England expected to hold rates Business live – latest updates The Bank of Japan (Bo J) has raised interest rates to a 31-year high, as it tried to dampen inflationary pressures created by the Iran war.Policymakers in Tokyo raised the Bo J’s short-term policy rate by a quarter of one percentage point, to 1% from 0.75%, and warned that companies were passing on rising oil costs to each other at a “relatively fast pace”. Continue reading...