The Bank of Japan is likely to wait until the summer before it next raises interest rates, according to a survey of economists.
Some 56% of 45 BOJ watchers expect the next hike to come in July, according to the poll conducted Monday, following the central bank¡¯s decision Friday to bring rates up to the highest level since 2008. September is the second favorite timing with 18% predicting it, while 9% said it would be in June.
Gov. Kazuo Ueda oversaw his third rate hike last week with a pledge to raise rates further if the BOJ¡¯s economic outlook is realized. The central bank is likely to pause a while before bringing the rate up to 0.75%, the highest rate since 1995, the survey showed.
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