Japan raises interest rates to highest level in 17 years
The country's central bank hiked rates to 0.5% following the release of December inflation data, which soared to 3%.

A pedestrian walks past a board displaying the morning numbers at the Tokyo Stock Exchange.
The Bank of Japan on Friday raised its benchmark interest rate to its highest level in 17 years, coinciding with a period of inflation in this economy threatened for decades by stagnation.
The central bank raised the rate by 25 basis points to 0.5%, a high since the 2008 global financial crisis.
The decision came after the release of inflation datafrom the world's fourth-largest economy, which accelerated to 3% in December.
End to 'lost decades' of economic stagnation
Unlike other advanced economies, which raised credit prices in recent years, Japan maintained its ultra-loose monetary policy to boost growth and inflation, even with negative rates.
However, last March, the bank ended the "lost decades" of economic and price stagnation and returned to positive interest rates.