0448 GMT - The Bank of Japan is likely to raise the policy rate by 25 bps once more this year, PGIM Fixed Income says in a note. However, the central bank could accelerate rate hikes in the event Japanese consumers materially step up consumption, it says. The BOJ is approaching a nominal policy rate of around 2% via gradual rate hikes, with the latest increase taking the rate to the psychologically important level of 0.5%, it notes. In the long term, PGIM thinks the BOJ sees an appropriate policy rate of at least 1% on a nominal basis. (monica.gupta@wsj.com)
(END) Dow Jones Newswires
February 11, 2025 23:48 ET (04:48 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.