The Bank of Japan raised interest rates on Friday to their highest since the 2008 global financial crisis and revised up its inflation forecasts, underscoring its confidence that rising wages will keep inflation stable around its 2% target.

The Bank of Japan on Friday raised the benchmark rate by 0.25 percentage points to 0.5 per cent. Consumer price inflation data for December was also released. Wit

The Bank of Japan (BOJ) has made its most aggressive monetary policy decision in over a decade, raising interest rates by 25 basis points to 0.5% on Jan. 24. This is the first time rates have reached this level since 2008,