Rakuten Bank CEO Sees BOJ Rate Hike by October Lifting Profit
- Japanese financial firm says benefiting from rate increase
- Hiroyuki Nagai spoke in interview with Bloomberg Television
Hiroyuki Nagai
Photographer: Kiyoshi Ota/BloombergThis article is for subscribers only.
Rakuten Bank Ltd. expects the Bank of Japan to hike rates again later this year after scrapping its negative interest rate policy in March, in a move that will likely boost profits for the Japanese online financial firm.
Given the yen’s fall against the dollar, the BOJ is likely to take action in October at the latest, Chief Executive Officer Hiroyuki Nagai said in a Bloomberg Television interview with Shery Ahn.