Japan’s central bank has reportedly lifted its central benchmark rate to a new 31-year-high following a soar in global energy prices, marking a significant shift in raising its policy rate to 1% from 0.75%. This decision focused heavily on statistical contexts.

Meanwhile, this crucial decision comes as several other banks have raised interest rates in the wake of the rising global geopolitical tensions.

The Bank of Japan slashed interest rates in the 1990s to mitigate the aftermath repercussions including property and shares. They remained near zero for two........

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