Central Banks
Ex-BOJ Board Member Rules Out Another Rate Hike This Year
- Central bank may be able to hike once by March, Sakurai Says
- Sakurai says Ueda should have emphasized easing continues
Bank of Japan communication is coming under scrutiny amid the market turmoil that followed its July 31 decision to increase the policy rate.
Photographer: Akio Kon/BloombergThis article is for subscribers only.
The Bank of Japan won’t be able to raise the policy rate again this year, given the market turmoil that followed its recent hike and the low likelihood of the nation’s economy seeing a rapid recovery, according to a former board member.
“They won’t be able to hike again, at least for the rest of the year,” former board member Makoto Sakurai said in an interview late Friday. “It’s a toss up whether they can do one hike by next March.”