BOJ to forgo July rate hike, taper US$152bil per year, says ex-policymaker

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BOJ to forgo July rate hike, taper US$152bil per year, says ex-policymaker - The Star

Quick Summary:

TOKYO: The Bank of Japan is likely to trim bond buying by around 24 trillion yen ($152 billion) annually in new guidance due next month, but forgo raising interest rates at least until September, former board member Makoto Sakurai said on Monday.

Many economists expect the BOJ to hike interest rates to 0.25% this year, though they are divided on whether it will come in July or later in the year.

"The BOJ is probably in no rush to raise short-term rates as doing so would push up mortgage loan rates and hurt already weak housing investment," Sakurai said.