SMBC Nikko Securities: Bank of Japan likely to raise interest rates in October

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

Maruyama Yoshimasa said, "Overall, this can be seen as a step towards further rate hikes. However, the BOJ's report and the branch managers' briefings did not convey a sense of urgency for an immediate rate hike at the next meeting." (Golden Ten)