While assessing the Bank of Japan’s monetary policy and the country’s Economy, Standard&Poor’s Global S & P noted on Friday that official interest rates in Japan are expected to rise from 2024, adding that Japan has sufficient flexibility to raise yen rates.
Bank of Japan member Asahi Noguchi said on Thursday that the country’s economy is gradually recovering, adding that if the Bank of Japan meets the inflation target of 2%, this will lead to a hike in interest rates.
However, the policymaker said that when inflation expectations are high, some flexibility is needed to continue the accommodative monetary policy under the YCC, explaining that the Bank of Japan’s task is to achieve a situation where wage growth does not fall below the level of inflation as soon as possible through continuous monetary easing.
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