For only the second time in nearly two decades, Japan's central bank on Wednesday raised interest rates, a move that could help bolster the country's ailing currency and ease the burden of consumers paying more for imported essentials like food and energy.
The large gap between interest rates in Japan and the United States has caused the yen to fall in value against the dollar over the past two years, but it regained some strength recently as traders anticipated an imminent rate increase from the Bank of Japan.
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