Stock market today: World shares slip after central banks crank interest rates still higher

, which have pushed the dollar's value against the yen sharply higher. The Bank of Japan has kept its benchmark interest rate at minus 0.1% for a decade as policymakers keep credit cheap to encourage more investment and spending.

“We think there are signs of inflationary pressure building up on the supply side, but it is certainly not strong enough for the BOJ to bring about immediate tightening,” ING Economics said in a commentary. Germany's DAX lost 0.7% to 15,879.83. In Paris, the CAC40 slipped 0.2% to 7,186.81. Britain's FTSE 100 shed 0.2% to 7,487.55.In Asian trading, Tokyo's Nikkei 225 lost 1.5% to 32,781.54 and the Hang Seng in Hong Kong fell 1.7% to 18,889.97.

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