The Bank of Japan raised rates last month for the first time since 2007, and abandoned a yearslong commitment to keep government bond yields close to zero. Japan was the last country to abandon its negative-interest-rate policy, which became a popular-and controversial-tool in the wake of the global financial crisis. The central bank has a two-day policy meeting this week.


America's Economy Is No. 1. That Means Trouble.

If you want a single number to capture America's economic stature, here it is: This year, the U.S. will account for 26.3% of the global gross domestic product, the highest in almost two decades.

That's based on the latest projections from the International Monetary Fund. According to the IMF, Europe's share of world GDP has dropped 1.4 percentage points since 2018, and Japan's by 2.1 points. The U.S. share, by contrast, is up 2.3 points.


Trump Advisers, Including Giuliani and Meadows, Indicted in Arizona

Several of former President Donald Trump's closest advisers, including Rudy Giuliani and Mark Meadows, were indicted in Arizona following a yearlong criminal investigation into their alleged efforts to overturn Trump's November 2020 election defeat in the state.

Arizona Attorney General Kris Mayes, a Democrat, said Wednesday that a state grand jury approved criminal charges against 11 Republicans who submitted a document to Congress falsely declaring Trump carried the battleground state.


Ukraine Using Secretly Provided Longer-Range Missiles Against Russian Forces

WASHINGTON-Ukraine used longer-range ATACMS missiles secretly provided by the U.S. against Russian forces east of Berdyansk, a strike that occurred less than 24 hours before President Biden signed a law Wednesday that includes money for more of those weapons, U.S. officials said.

It was only the second time Ukraine had used the longer-range variant of ATACMS, a U.S. official said, an American-provided capability that hadn't been previously disclosed.


Israel Prepares Gradual Rafah Offensive

Israel is moving ahead with plans for a military offensive to take Rafah, the last remaining Hamas stronghold in Gaza, but has responded to U.S. and international pressure by scrapping plans for an all-out assault in favor of a more gradual approach that seeks to limit civilian casualties, according to Egyptian officials and former Israeli officials.

Israel plans to proceed in phases, evacuating neighborhoods in advance before moving on to new areas, these officials said. The operations will also likely be more targeted than previous Gaza attacks and involve coordination with Egyptian officials to secure the Egypt-Gaza border, according to Egyptian officials briefed on the plans.


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(END) Dow Jones Newswires

04-25-24 0519ET