The Bank of Japan decided to raise its benchmark interest rate by a quarter-point to its highest level in 31 years, and to halt government bond purchase reductions next year.
The policy board of BoJ voted 7-1 to raise the interest rate to 1.00 percent from 0.75 percent, as widely expected, on Tuesday.
The board signaled its commitment to further monetary policy tightening to support its price stability target.
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