While only 30% of people who follow the Bank of Japan (BOJ) expect authorities to raise interest rates when they meet next week, more than 90% see the risk of such a move, a Bloomberg survey shows.
According to the poll, 14 of 48 economists predict that BOJ Governor Kazuo Ueda’s administration will raise the policy rate from the current range of 0% to 0.1% at the end of next week’s meeting on July 31.
Another 27% said the rate hike would likely come in September, up from 19% in a previous survey, and 35% said the hike would come in October. Some 94% said July would be the earliest timing of a rate hike in their risk scenario.
