SMBC Nikko Securities: Bank of Japan Likely to Raise Interest Rates in October

Odaily Planet Daily News SMBC Nikko Securities economist Yoshimasa Maruyama stated that, given the results of the Bank of Japan's branch manager meeting on Thursday, the Bank of Japan may still be on track to raise interest rates again in October. The Bank of Japan branch managers pointed out that despite tensions in the Middle East, production remains resilient and there is potential for further price pass-through.

Maruyama said, "Overall, this can be seen as a step towards further rate hikes. However, the Bank of Japan's report and the briefings from the branch managers did not convey a sense of urgency to raise rates immediately at the next meeting." (Jin Shi)