Japan’s Manufacturer Sentiment Improves, Backing BOJ’s Hike Case

Confidence among Japan’s large manufacturers improved for a second straight quarter, supporting the case for the Bank of Japan to raise interest rates as early as this month.

The business sentiment index climbed to 14 from 13 in the three months ending September led by improvements in the ceramics and shipbuilding industries, according to the BOJ’s latest quarterly Tankan business survey Wednesday. That matched the median economist forecast in a Bloomberg survey.