BOJ Watchers See Next Rate Hike by October, Risk of Faster Moves

-- The Bank of Japan will raise interest rates again by October and may hike at a faster than expected with yen weakness among factors that may come into play, according to a Bloomberg survey of economists.What Happens If Trump Can’t Post His $454 Million BondFollowing the central bank’s landmark decision to scrap its massive easing program this week, 70% of 47 polled analysts expect the BOJ to increase rates again by October, but their opinions diverge on the specific timing of the next move.

Ueda said Thursday that the BOJ moved this week partly because it wanted to avoid having to rapidly raise rates if it moved too late. That remark suggests a shift in his thinking was already underway in the run-up to this week’s gathering. He had previously maintained there was little risk of falling behind the curve, in contrast to the US and Europe.

Some 54% of respondents said there is a risk of a BOJ hike if the yen weakens again, though almost a third said they don’t see that. Around 40% of respondents said the risk of a currency intervention by the ministry has risen following the yen’s drop after the BOJ’s normalization step. The median estimate of the yen level that would push the finance ministry to intervention is 155, according to the poll.Oil Declines for a Third Day as Rates and Geopolitics Dominate

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