Bank of Japan raises benchmark interest rate from 1 to 1.25 percent, pledging to help counter inflation risks. The Bank of Japan’s widely expected move followed an unusual campaign by Treasury Secretary Scott Bessent for tighter monetary policy. Key points and original sources are listed below.

• Bank of Japan raises benchmark interest rate from 1 to 1.25 percent, pledging to help counter inflation risks.S1

• The Bank of Japan’s widely expected move followed an unusual campaign by Treasury Secretary Scott Bessent for tighter monetary policy.S2

• Central banks around the world have hiked rates as high energy prices are pushing up inflation.S3