Central Banks
BOJ Weighs Case for First Triple Hike Since Japan’s Bubble Burst
- Ueda has promised careful communications ahead of next move
- Ueda said in recent interview timing for next hike is nearing
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Bank of Japan Governor Kazuo Ueda has plenty of data to support the case for raising the benchmark rate in December, an outcome that would mark the first tightening of policy three times in a calendar year since the peak of Japan’s asset bubble in 1989.
The governor appears determined to weigh his options until the last minute before the Dec. 19 decision. He’ll sift through forthcoming numbers including the central bank’s Tankan survey on Dec. 13 and monitor the Federal Reserve’s own rate decision due several hours before the BOJ’s board sets policy.