TechFlow, June 12 — According to Jinshi Data, former Bank of Japan board member Takaneko Masako said on Thursday that U.S. President Trump's tariffs may have ended the Bank of Japan's interest rate hike cycle, as the likelihood of further rate increases is rapidly diminishing due to expected damage to exports. Masako, who maintains close contact with current policymakers, stated that uncertainty surrounding U.S. trade policy is causing significant disruption to the global economy, which could hurt Japan’s exports, output, wage growth, and consumption. Since the automotive industry plays a major role in Japan's economy, U.S. auto tariffs are particularly damaging. "The real test for the Japanese economy may come in 2026," she said, as the impact of U.S. tariffs would begin to show after six to twelve months. "The Bank of Japan may be unable to raise rates for quite some time," she added.
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