Mizuho: Bank of Japan Unlikely to Raise Interest Rates in April Amid High Market Uncertainty

Odaily News Mizuo Securities economists stated that due to high uncertainty surrounding geopolitical risks, the Bank of Japan is unlikely to raise interest rates at its April meeting. The central bank will make a decision again at its June meeting. The current overnight index swap market estimates the probability of a rate hike in April is only 17%, a significant drop from about 60% last week. The Bank of Japan Governor mentioned the dual impact of the Middle East conflict on Japan's price trends. While he did not seem to rule out the possibility of a rate hike in April, he appeared to lean towards a more cautious approach to further assess the situation. (Jin10)