For first time in 17 years, Japan increases interest rates

The Bank of Japan (BOJ) has concluded its eight-year-long policy of negative interest rates. The decision signifies a major shift from the long-standing practice of substantial monetary stimulus to propel growth. This is the first time in 17 years that Japan has seen an increase in interest rates, although they remain close to zero due to the country's delicate economic recovery. With this move, Japan becomes the last country to abandon negative rates, marking the end of an era.