At a glance
Japan's central bank hiked rates to their highest level since 1995, citing Middle East war-driven energy costs fueling inflation. The move sent ripples through global markets.
Japan's central bank raised interest rates to their highest level since 1995, citing Middle East war-driven energy costs as a driver of inflation. The increase sent ripples through global markets, particularly affecting currency values and asset prices denominated in yen. The move signals that even Japan's historically low-rate environment is becoming unsustainable under war-driven commodity inflation.
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