Bank of Japan Raises Rates to 31-Year High, Blames Iran War Energy Shock

📈 BOJ — A 31-year rate high triggered by a war Tokyo had no vote in. 📌 LOOK CLOSER: Japan imports nearly all its energy; the Hormuz closure drove import bills high enough to break three decades of deflationary policy. A BOJ hike tightens yen liquidity globally — dollar-yen carry trades unwind, emerging market debt reprices, and European exporters face a stronger yen headwind. The war's financial blast radius just reached Tokyo.