Bank of Japan raises key interest rate to halt yen’s slide against the dollar

The Bank of Japan raised its key interest rate (AP)

The Bank of Japan raised its key interest rate to about 0.25% from a range of zero to about 0.1%, in a bid to curb the yen’s slide against the US dollar.

The move was widely expected, and the yen gained sharply against the dollar ahead of and after Wednesday’s decision, trading below 152 yen (197.8 yen to the pound).