BOJ raises interest rates to 31-year high in widely expected move

The Bank of Japan raised its short-term policy rate to 1.0% from 0.75% by a 7-1 vote, the first rate hike since December, bringing the policy rate to its highest level since 1995. The move was widely anticipated by markets. Governor Kazuo Ueda was hospitalised and missed the meeting, with Deputy Governor Shinichi Uchida holding the press briefing on his behalf.