Bank Of Japan Hikes Rate To 31-Year High

The Bank of Japan hiked interest rates to a 31-year high Tuesday as it battles inflation caused by the Middle East war, even after Washington and Tehran agreed on a peace deal.

The central bank for the world’s fourth-largest economy raised its benchmark rate 25 basis points to 1.0 per cent, the highest since 1995 and marking the first increase since December.

The widely expected decision…