Japan’s central bank on Friday raised its benchmark interest rate to 1.25 per cent from 1 per cent, marking the highest level in 31 years.
The 0.25 percentage point increase was announced at the end of a two-day monetary policy meeting and had been widely anticipated by global markets, reports AP.
The move came after the US Federal Reserve also raised its key interest rate this week, while pressure had been building on Japan to tighten monetary policy amid concerns over the weakening yen.
Japan and the United States recently intervened jointly to support the yen.
The US dollar was trading at around 155 yen on Friday.
