TOKYO (AP) — Japan’s central bank on Friday 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.

Pressures have been coming from the U.S. for Japan to raise rates because of concerns about the weakening yen.

The nations intervened together recently to prop up the yen.

The U.S. dollar is trading at about 155 yen.

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