Bank of Japan hikes interest rates to 31-year high

The Bank of Japan on Tuesday (Jun 16) raised interest rates to its highest level in 31 years and signalled more hikes ahead, as it moves to tame inflation risks fuelled by surging energy costs and a weak currency. The central bank for the world's fourth-largest economy raised its benchmark rate 25 basis points to 1 per cent – the highest since 1995 and its first increase since December. Martin Schulz, chief policy economist at Fujitsu, shares his thoughts on these developments with CNA’s Roland Lim.

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