The Bank of Japan will raise interest rates in July, according to a third of economists surveyed by Bloomberg, in addition to unveiling a roadmap for its path to quantitative tightening (QT).
About 33% of the 43 economists said the upper limit on the policy rate will be raised from 0.1% at the board meeting ending July 31, the survey showed on Tuesday. Before this month’s meeting, about the same percentage expected an increase in July.
When the BOJ said in June that QT details wouldn’t come until July, some economists said the likelihood of a July move had diminished because explaining QT details alongside an increase seemed like too much at once. Meanwhile, those expecting an increase in October now stand at 42%, up from 33% previously.
