TOKYO : The Bank of Japan may hold off on ending negative interest rates until around April next year to gauge whether wage gains will broaden enough to keep inflation sustainably at its 2 per cent target, former central bank policymaker Makoto Sakurai told Reuters.
But the central bank will be in no rush to phase out stimulus due to signs of weakness in Japan's economic recovery, such as sluggish consumption and slower-than-expected capital expenditure, he said on Tuesday. "Ending negative rates will be largely a symbolic move, but the BOJ probably wants to time it very carefully," Sakurai said.
Japan's core inflation hit 3.1 per cent in August, staying above the BOJ's 2 per cent target for a 17th straight month, as more firms hike prices to pass on rising raw material costs to households.
Source: Loan Digest (loandigest.net)
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