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TheBias Brief

BBC NewsSig. 7NewsEconomyEnergy

Japan raises interest rate to new 31-year high to curb rising prices

Japan's central bank raised its benchmark interest rate from 1% to 1.25%, a 31-year high, as it continues moving away from ultra-low borrowing costs. The move comes amid global rate hikes and inflation pressures linked to higher energy prices, with Japan also facing a weak yen and a shrinking workforce.