Japan's central bank raises benchmark interest rate to 1.25%

Japan’s central bank has raised the benchmark interest rate to 1.25% from 1.0%, a 31-year-high. The move Friday, coming at the end of the two-day monetary policy board meeting, was expected, widely figured into recent global markets. The raise by 0.25 percentage points to the policy rate comes after the Federal Reserve also raised its key rate this week.…