Bank of Japan Raises Interest Rates for First Time Since 2007

On March 19th, the Bank of Japan (BoJ) announced it would set a new policy rate between 0 percent and 0.1 percent, with the board voting 7-2 in favor of the increase. The rate increase is the first time in 17 years that Japan has increased its interest rates. It also marks the end of eight years of negative rates and the country's stimulus program.