BOJ likely eyeing steady rate hikes, says ex-central bank executive Maeda

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What's different a year after the wildfires? | SaltWire #novascotia #firefighting #wildfires #newsTOKYO - The Bank of Japan will likely raise interest rates again as early as July and keep hiking borrowing costs next year and beyond if the economy sustains a moderate recovery, former central bank executive Eiji Maeda told Reuters.

In March, the BOJ ended eight years of negative interest rates and other remnants of its radical stimulus on prospects that rising wages will underpin consumption, and keep inflation durably around its 2% target. Based on staff estimates on Japan's neutral rate of interest released in its quarterly report, the BOJ likely sees scope to eventually raise short-term rates to around 1.75%, Maeda said.

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