India, Sept. 18 -- The Bank of Japan raised its benchmark rate by a quarter point to a 31-year high amid high inflation and weaker yen.
The policy board, governed by Ueda Kazu, decided by a 7-2 majority vote to raise the interest rate to 1.25 percent, marking the highest since 1995. The move was widely anticipated by markets.
The bank had lifted its benchmark rate by 25 basis points in June and had signaled its plan to tighten policy at a gap of around six months.
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