New Delhi, June 16 -- The Bank of Japan (BOJ) raised interest rates to a 31-year high on Tuesday, in line with market expectations, as the central bank focuses on battling inflation risks from the US-Iran war in the Middle East.

The BOJ decided to raise its short-term policy rate to 1.0% from 0.75% by a 7-1 vote at a two-day meeting that ended on Tuesday.

It was the first rate increase since December. The Bank of Japan's policy rate now stands at levels unseen since 1995.

(More to come)

Published by HT Digital Content Services with permission from MINT....