The Bank of the Japan (BOJ) increased its key interest rate from -0.1% to a range of 0%-0.1%. It comes as wages have jumped after consumer prices rose. In 2016, the bank cut the rate below zero in an attempt to stimulate the country's stagnating economy, and the hike means that there are no longer any countries left with negative interest rates.
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Japan raises interest rates for first time in 17 years
In a statement announcing the decision, the BOJ said it will keep buying "broadly the same amount" of government bonds as before and ramp up purchases in case yields rise rapidly.
