"Japan's Historic Interest Rate Hike and Global Implications"

Japan's central bank raised interest rates for the first time in 17 years, prompting concerns for small business owners like Satoaki Kanoh, who worry about the impact on borrowing costs as they face the need to replace aging machinery. The shift from a deflationary mindset to adapting to higher borrowing costs poses challenges for businesses and households, with potential implications for the economy. While some hope for a stronger yen and potential salary increases, others fear lower profit margins and reduced project opportunities.