The Bank of Japan raised its benchmark interest rate and unveiled plans to halve bond purchases, underscoring its determination to normalize monetary policy. The BOJ hiked its policy rate to around 0.25% from a range of 0 to 0.1%, according to its statement Wednesday. It also said it would reduce its monthly pace of bond buying to around ¥3 trillion ($19.9 billion) by the first quarter of 2026. The recent pace of purchases has been about double that amount. Our Anchor Kriti Gupta joins Stephen Carroll and Lizzy Burden on Bloomberg Radio to explains what it all means. (Source: Bloomberg)