Japan hikes interest rate to highest level since 1995 as inflation bites

Japan's central bank has raised its main interest rate to the highest level in 30 years as the country faces a cost-of-living squeeze.In a widely expected decision, the Bank of Japan's policy board, led by governor Kazuo Ueda, increased its benchmark rate by a quarter of a percentage point to "around 0.75%" on Friday.The move comes as new Prime Minister Sanae Takaichi is keen that inflation comes down but also…