The Bank of Japan raised interest rates on Friday to their highest since the 2008 global financial crisis and revised up its inflation forecasts, underscoring its confidence that rising wages will keep inflation stable around its 2% target.

Japan's central bank has raised its key interest rate to about 0.5% from 0.25%, noting that inflation is holding at a desirable target level.

The Bank of Japan (BoJ) is likely to wait until the summer before it next raises interest rates, according to economists surveyed by Bloomberg.

As time goes on, the BOJ’s rate increases appear to be having a stronger impact on people’s everyday lives, shifting from more abstract concepts to more concrete effects.

Executives at a leading Japanese bank have apologized and taken pay cuts after police arrested an employee who allegedly stole about $9 million worth of valuables from customers’ safe deposit boxes.

Bank of Japan Gov. Kazuo Ueda echoed recent comments that have revived market expectations for imminent policy action.

The Bank of Japan raised interest rates on Friday to their highest since the 2008 global financial crisis, underscoring its confidence that rising wages will keep inflation stable around its 2% target.

TOKYO (Reuters) - The Japanese government on Tuesday nominated Waseda University political science and economics professor Junko Koeda to join the Bank of Japan's nine-member board. Koeda would replace former economist Seiji Adachi, whose five-year term ends on March 25.

The Bank of Japan is expected to raise interest rates on Friday barring any market shocks when U.S. President-elect Donald Trump takes office, a move that would lift short-term borrowing costs to levels unseen since the 2008 global financial crisis.

In the eyes of Japanese economic policymakers, there have been few surprises from the nearly week-old Trump administration. That, in part, gave them confidence to raise interest rates again Friday. Why it matters: The Bank of Japan had held off hiking rates late last year,

Tokyo stocks opened higher Monday, lifted by buying of bank issues after long-term interest rates climbed as the Bank of Japan raised

The return of inflation and wage growth is giving the Bank of Japan room to raise interest rates and declare the end of a long period of stagnation.