By continuing to browse our site you agree to our use of cookies, revised Privacy Policy and Terms of Use. You can change your cookie settings through your browser. Editor's note: Lin G. is a CGTN economic commentator. The views expressed in this article are the author's own and do not necessarily reflect those of CGTN. On Friday, the Bank of Japan delivered a long-anticipated yet highly reluctant interest rate hike, pushing its policy rate to 1.25%, the highest level in 31 years, in a difficult move aimed at countering the persistent downward pressure on the yen and stabilizing the country's exchange rate. This policy adjustment has pushed Japan deeper into a difficult monetary dilemma: leaving rates unchanged could prolong the downward pressure on the yen and add to external economic pressures, while raising rates risks placing further strain on an already fragile domestic economy and a heavily indebted government.
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