Overview

• The Bank of Japan raised its short-term policy rate to 0.25%, the highest in 15 years.
• Some board members suggested rates may need to reach 1% to control inflation.
• The decision marked a significant shift from a decade-long stimulus program.
• Analysts are skeptical about the BOJ's bullish economic projections.
• The move has caused fluctuations in global markets and a spike in the yen.