Bank of Japan raises interest rates to 0.75%

TOKYO, Dec 19 (Reuters) - The Bank of Japan raised interest rates on Friday to levels unseen in three decades, taking another landmark step in ending decades of huge monetary support and near-zero borrowing costs.

As widely expected, the central bank raised short-term interest rates to 0.75% from 0.5% by a unanimous vote.

BOJ Governor Kazuo Ueda will hold a news conference to explain the decision at 3:30 p.m. (0630 GMT).