Japan's central bank raised interest rates for the first time since 2007, ending the negative rates regime due to robust wage gains. The bank also announced changes to its policies on bond purchases and quantitative easing.
Japan's economy grew in the fourth quarter of last year, averting a recession. Real GDP increased at an annual pace of 0.4% instead of contracting. Expectations are mixed on what the latest data might mean for Bank of Japan policy decisions.
Japan's Nikkei 225 hits a record high as corporate profitability and investor returns drive a rally in Japanese equities. The weaker yen, strong corporate earnings, and government reforms are supporting the market surge.