TOKYO -- The Bank of Japan announced on Wednesday an interest rate increase and a bond tapering plan, in an aggressive move that signals the central bank's growing confidence in the recovery of the domestic economy and its concern about a markedly weaker yen.
Bank of Japan
Bank of Japan raises interest rate to 0.25%, open to further hike this year
Central bank to cut bond purchases by half within 2 years
Bank of Japan Gov. Kazuo Ueda speaks at a news conference after its policy meeting in Tokyo on July 31. (Photo by Yutaka Miyaguchi)
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