Increase from 1% to 1.25% follows US Federal Reserve and European Central Bank tightening monetary policy
Japan’s central bank has increased interest rates to a fresh 31-year high as it attempts to combat global inflation linked to the war in Iran.
The Bank of Japan voted to raise its target interest rate from 1% to 1.25%, the highest level since 1995.
Continue reading...US and Japanese governments confirm they carried out a rare joint intervention late last week
The yen has hit its highest level in three months after Japan and the US launched a combined operation to support the Japanese currency.
The yen strengthened to ¥155 to the US dollar on Monday, its highest level since early May, after Tokyo and Washington confirmed they had carried out a rare joint currency intervention late last week.
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