Analysis:BOJ faces fresh challenge as politics, yen complicate rate hikes

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Analysis:BOJ faces fresh challenge as politics, yen complicate rate hikes - Channel News Asia

Quick Summary:

TOKYO : Bank of Japan Governor Kazuo Ueda's efforts to lift rock-bottom borrowing costs face fresh challenges as a yen rebound and the new political leadership's preference for loose monetary policy raise the hurdle for rate hikes.

The looming election this month means many analysts expect the BOJ will hold off raising rates at its Oct.30-31 meeting.

However, with the potential for political curve balls heading into the election, the BOJ may use overseas risks, such as a slowing U.S.economy, as an argument for not raising rates straight away.