BOJ to raise key rate to 1% without Kazuo Ueda
Business
Japan's central bank is about to raise its key interest rate to 1%, something that hasn't happened since 1995.
This marks the first rate hike since December, as the Bank of Japan tries to shift away from its super-low rates.
The board will make this call without Ueda, who's out for medical reasons.
Analysts see possible further BOJ hikes
Prices in Japan have been climbing, with wholesale inflation hitting a three-year high and a weak yen making imports more expensive.
Even though government subsidies are keeping everyday costs a bit lower, overall price pressure is building up.
Analysts think another rate bump could come later this year if things keep trending this way, but the Bank of Japan is staying flexible given all the global uncertainty right now.