The Bank of Japan may raise interest rates in April

PANews reported on February 17 that former Bank of Japan Policy Board member Seiji Ando stated that the Bank of Japan is likely to use the large amount of new data available in April as an opportunity to raise interest rates, disregarding market speculation about a possible rate hike in March. In an interview on Monday, Ando said, “A rate hike in March would carry risks because it would be based on expectations rather than confirmed signals. In April, a large amount of data will be available to confirm improvements in core inflation.” Ando’s view aligns with the growing market expectation that the committee led by Governor Ueda and Man may take action in the spring—earlier than most economists predicted after the last rate hike in December.