World shares advanced Friday after U.S. stocks rose to a record and the Bank of Japan raised its key lending rate.

Japan's central bank has increased the cost of borrowing to its highest level in 17 years after consumer price rises accelerated in December. The move by the Bank of Japan (BOJ) to raise its short-term policy rate to "around 0.5 per cent" comes just hours after the latest economic data showed prices rose last month at the fastest pace in 16 months.

The move would mark the central bank's first rate hike since July last year, when it increased rates to 0.25%.

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Asian markets rose Friday after a record day on Wall Street in response to Donald Trump's tax-cut pledge, while the yen weakened slightly ahead of an expected interest rate hike by the Bank of Japan later in the day.

Bank of Japan Governor Kazuo Ueda will size up the need to raise interest rates on Friday amid heightened expectations of a hike — and barring a market shock triggered by Donald Trump’s first ...

Tokyo's Nikkei 225 index gained 0.3% to 40,074.87 after the central bank raised its benchmark rate to about 0.5% from 0.25%, as widely expected. It is the highest level for the rate since 2008, as the Bank of Japan shifts out of a long spell of extreme low interest rates meant to spur more borrowing and spending.

Japan's government on Thursday maintained a cautious outlook for the economy in part as policymakers kept a wary eye on U.S. President Donald Trump's policies and their potential impact on global growth.

The Bank of Japan raised interest rates on Friday to their highest since the 2008 global financial crisis and revised up its inflation forecasts, underscoring its confidence that rising wages will keep inflation stable around its 2% target.

The Bank of Japan raised interest rates on Friday to their highest since the 2008 global financial crisis, underscoring its confidence that rising wages will keep inflation stable around its 2% target.

The Bank of Japan has raised short-term interest rates by a quarter point, the highest in 17 years, signalling efforts to normalise monetary policy in response to persistent inflation and increasing wages.

The Bank of Japan looks set to raise interest rates this week unless Trump’s inauguration address as U.S. president on Monday rattles financial markets, say people familiar with the central bank’s thinking.