Bank of Japan hikes rates to 31-year high to battle inflation
AI Summary
The Bank of Japan raised interest rates to a 31-year high in an effort to counter rising inflation, influenced by a surge in oil prices linked to the West Asia crisis.
Pressure has increased on officials to further tighten monetary policy as a spike in oil prices caused by the West Asia crisis
Politics Markets Commodities Energy Bank of Japan interest rates inflation oil prices West Asia monetary policy economy