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Weekly Business News [March 30 Edition]

The yen plunged to a 34-year low against the dollar, prompting Japan to consider intervening in the currency market. For the first time since 2007, the Bank of Japan raised interest rates, but relatively loose monetary policy persists.

The Central Bank of the Republic of Turkey increased its main interest rates to 50%, a five percentage point raise. The rate was 8.5% a year ago. Now, as inflation approaches 70% annually, the bank said to maintain a stringent monetary policy until a significant and sustained decrease in price inflation is observed.