Tokyo, June 2 (Jiji Press)–The Bank of Japan is seriously considering raising interest rates to 1 pct to counter upside inflation risks as the war in Iran keeps crude oil prices high. The Japanese central bank may raise the target for guiding the unsecured overnight call rate, the country’s benchmark short-term interbank rate, from the current 0.75 pct when policymakers next meet on June 15-16. This would be the BOJ’s first rate increase since December. They will carefully assess economic and price outlooks until just before the meeting, as supply chain disruptions could trigger an economic downturn. END [Copyright The Jiji Press, Ltd.]
BOJ Eyes Raising Interest Rates to 1 Pct
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