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The Bank of Japan ends its negative interest rate policy, opting for its first hike in 17 years

TOKYO (AP) — Japan’s central bank raised its benchmark interest rate Tuesday for the first time in 17 years, ending a longstanding policy of negative rates meant to boost the economy. The short-term rate was raised to a range of 0 to 0. 1% from minus 0. 1% at a policy meeting that confirmed expectations of a shift away from ultra-lax monetary policy. It’s the first rate hike since February 2007. The bank had set an inflation target of 2% as an indicator that Japan had finally escaped But...

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