BOJ Bets Swing Toward March Rate Hike
- Higher pay the last piece in puzzle needed for policy shift
- Some BOJ officials favor early rate move, people familiar say
This article is for subscribers only.
Speculation surged that the Bank of Japan will move this month to raise interest rates for the first time since 2007, after a flurry of reports and wage figures helped drive up the yen, bond yields and overnight swaps.
Bets on the March 18-19 meeting are gaining traction as reports emerge that some BOJ officials favor an early move while some government officials also support a rate hike. Economists and investors are largely in agreement that the central bank will scrap the world’s last remaining negative rate either this month or in April.