Japan Raises Interest Rates for First Time in 17 Years

After 17 years of maintaining a negative interest rate policy, Japan’s central bank has taken a historic step by raising its key interest rate from -0.1% to a range of 0%-0.1%. This move marks a significant shift in Japan’s economic strategy, reflecting a response to rising consumer prices and increased wages. In 2016, Japan had lowered its interest rate below zero, aiming to invigorate its stagnant economy by encouraging spending over savings.

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