Mumbai, Dec. 19 -- Japan's central bank has raised its main interest rate to the highest level in three decades, marking a major shift in monetary policy as the country grapples with rising living costs. The Bank of Japan, led by Governor Kazuo Ueda, increased its benchmark rate by 0.25 percentage points to around 0.75 percent in a widely expected move. The decision comes under the new leadership of Prime Minister Sanae Takaichi, who is aiming to curb inflation while keeping government borrowing costs manageable. This hike is the first since January and the first rate increase since both Ueda and Takaichi assumed their current roles, signaling a cautious but clear step away from Japan's long-standing ultra-loose policy stance.
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