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

In a significant policy shift, the Bank of Japan has raised interest rates to a 31-year high of 1.25 percent, a widely anticipated decision aimed at curbing inflation. The board's vote was split seven to two, with Toichiro Asada and Ayano Sato expressing dissent. Governor Kazuo Ueda is scheduled to discuss the reasoning behind this move during an upcoming news conference.