Bank of Japan hikes rate to 31-year high (opens in new tab)

The central bank for the world's fourth-largest economy raised its benchmark rate 25 basis points to 1.0 percent, the highest since 1995 and marking the first increase since December. The widely expected decision followed rate rises by the European Central Bank and in Indonesia last week after the conflict caused economic havoc and rising prices worldwide. With US inflation at a three-year high, expectations are growing that the Federal Reserve will follow suit, albeit not at new boss Kevin W...