TOKYO -- Two weeks ago, close to 70% of market players expected the Bank of Japan to raise rates this month. By last week, less than one in five had such expectations, with most predicting a rate hike to 0.5% at the following meeting, on Jan. 23-24.
The latest bout of uncertainty was sparked by BOJ Gov. Kazuo Ueda himself. In an interview with Nikkei on Nov. 28, the 73-year-old chief said the next rate hikes are "nearing" but also that he still wants to check on the momentum toward wage hikes next year and the pricing trends outside large corporations.
