Japan Raises Interest Rate to 0.5%, the Highest Level Since 2008

TaiwanPlus News

The Bank of Japan has raised the country's interest rate to 0.5%, the highest level since 2008. That follows two previous raises in March and July last year.

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00:00Japan has raised its interest rates to their highest level since 2008.

00:06The Bank of Japan raised rates to 0.5 percent following two hikes in March and July of last year.

00:13The move comes as Japan has exceeded its inflation target for over two years now,

00:17with prices and wages steadily rising.

00:20It also comes after decades of effort from the central bank to pull the economy out of deflation.

00:26But still, Japan's economy has struggled to grow,

00:28and economists say raising interest rates is a good move to spur growth.

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