BOJ raises rates for first time in 6 yrs

Bank of Japan decides to lift call rate target to 0.25 per cent from around zero.

The Bank of Japan raised interest rates for the first time in six years on Friday but said very low rates would probably be maintained for some time.

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As widely expected, the BOJ's nine-member Policy Board decided to lift the overnight call rate target to 0.25 per cent from around zero. The decision was unanimous.

It also decided to raise the official discount rate to 0.4 per cent from 0.1 per cent by a vote of 6-3.