Bank of Japan Set to Raise Rate to 1% as Ueda Misses Policy Meeting
Updated
Updated · Bloomberg · Jun 15
Bank of Japan Set to Raise Rate to 1% as Ueda Misses Policy Meeting
3 articles · Updated · Bloomberg · Jun 15
Summary
A quarter-point increase to 1% is widely expected when the Bank of Japan ends its two-day meeting Tuesday, which would lift the benchmark rate to its highest level since 1995.
Kazuo Ueda will not attend the meeting after being hospitalized for treatment of a hepatic cyst infection; the BOJ said he will submit his views in writing but will not cast a vote.
The gathering is the first regular BOJ policy meeting ever held without the governor in attendance, making the expected move unusually historic even as market expectations remain firm.
The anticipated hike would be the fifth in the current tightening cycle and reflects concern over upside inflation risks, including pressure from Middle East conflict and elevated crude oil prices.