BOJ hikes rates to 0.25% in push toward normalization amid weak yen

The Bank of Japan on Wednesday raised its policy interest rate to around 0.25 percent and decided to slow the pace of its government bond buying to 3 trillion yen ($20 billion), in a further shift toward policy normalization as the nation battles a weakening yen.In its first increase since the symbolic end of its negative rate policy in March, the BOJ judged it appropriate to lift short-term interest rates to their highest level since 2008, from a range of zero and 0.1 percent.BOJ chief Kazuo Ueda said economic and price developments are "on track" with their forecasts, but warned of upside…READ FULL ARTICLE