In a historic move, the Bank of Japan (BOJ) has increased interest rates for the first time in 17 years, signaling the end of the world’s last negative rates regime. What Happened: The BOJ announced on Tuesday that it would raise its short-term interest rates to approximately 0% to 0.1% from -0.1%, marking the first rate hike since 2007, reported CNBC. The negative rates regime has been in place since 2016. Japan’s benchmark stock index, the Nikkei 225, initially dropped more than 239 points to 39,529 after the announcement, but quickly rebounded, gaining 129 points. The central bank also reve…
