Tokyo, June 19 (Jiji Press)--A member of the Bank of Japan Policy Board backed the idea of raising interest rates every few months at their meeting in April, it was learned Friday. At the April 27-28 meeting, three of the nine members proposed a 0.25-percentage-point increase in

The Bank of Japan raised its benchmark interest rate to 1% on Tuesday, citing challenges stemming from a weak Japanese yen and higher prices.

The quarter-point increase, which was widely expected, takes Japan to a critical milestone in the central bank’s effort of normalising monetary policy.