UBS: Bank of Japan rate hikes in coming months appear warranted
2025-10-21 06:54:42
Masamichi Adachi, chief Japan economist at UBS Global Research, said in comments that it appears to be warranted for the Bank of Japan to raise interest rates in the coming months. He said real interest rates in Japan are negative, which makes financial conditions very accommodative. Inflation dynamics appear to support the view that the central bank should reduce easing, citing the expectation that long-term inflation expectations will keep rising towards 2.0%. He also expects the government to seek fiscal expansion, which could mean higher inflationary pressures. UBS expects the Bank of Japan to raise its policy rate by 25 basis points in January, but does not rule out the possibility of a rate hike in December. (Jin Ten)
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