Japanese Prime Minister Shigeru Ishiba, struggling to stabilize his minority government, says he will seek to maintain regional security and prepare for tough negotiations with U.S.

The trial of the alleged killer of a boy enrolled in a Japanese school in Shenzhen, China began in the city on Friday, Japan's Ministry of Foreign Affairs said.

“Japan-US leadership is essential to strengthen the free and open Indo-Pacific by establishing multi-layered security networks including Japan-US-Australia-India, Japan-US-South Korea, and Japan-US-Philippines,” Mr Ishiba added.

The move comes in line with expectations from CNBC's survey, where an overwhelming majority of economists predicted a hike.

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.

Editor’s note: This story was updated on January 24th.

Transit in most global cities is government-run. But in Japan, that’s not the case. There, private companies run a sprawling network of trains, subways, and buses, often considered the best in the world.

Japanese Prime Minister Shigeru Ishiba, struggling to stabilize his minority government, said Friday he will seek to maintain regional security and prepare for tough negotiations with U.S. President Donald Trump to win his commitment to maintain a strong American presence in the Asia-Pacific.

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.

Asian shares have advanced after U.S. stocks rose to a record and the Bank of Japan raised its key lending rate. U.S. futures edged lower and oil prices fell.