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

TOKYO (AP) — Japan’s central bank has raised its benchmark interest rate for the first time in 17 years, ending a longstanding policy of negative rates meant to boost the economy. The rate was raised to a range of 0 to 0.1% from minus 0.1%. The interest rate hike was the first since February 2007. The BOJ had remained cautious about “normalizing” monetary policy, or ending its negative benchmark borrowing rate, even after data showed inflation at about its target 2% rate in recent months.