The Bank of Japan raises interest rates for second time this year

Japan's central bank has raised the cost of borrowing for only the second time in 17 years as it tries to normalise monetary policy in the world's fourth largest economy. The Bank of Japan (BoJ) increased its key interest rate to “around 0.25%” from the previous range of 0% to 0.1%.It also outlined a plan to unwind its massive bond buying programme as it eases back from a decade of stimulus measures.The move…