TechFlow news, December 4 — According to Reuters, three Japanese government sources said the Bank of Japan is likely to raise interest rates in December, and the government is expected to accept this decision. The sources said the BOJ appears ready to lift its policy rate from 0.5% to 0.75%, a signal also sent by Governor Kazuo Ueda in his speech on Monday. This would be the first rate hike since January this year. One source said, "If the BOJ wants to raise rates this month, they should go ahead. That's the government's stance." He added that a rate hike this month is almost certain. On Monday, Ueda said the BOJ would consider the "pros and cons" of a rate hike this month, indicating a strong possibility of tightening at its meeting on December 18–19. These comments pushed market pricing for a December hike to around 80%, although some market participants are watching how the dovish government led by Prime Minister Sanae Takaichi might respond. Market focus may now shift to the central bank's wording on how high it ultimately plans to raise rates, a topic on which Ueda remains ambiguous. (Golden Age)
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