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.
Initially, BOJ Gov. Kazuo Ueda's remarks in an interview with Nikkei on Nov. 28 were taken as signaling a December rate hike, then they were reinterpreted as a plea for patience. (Source photos by Mizuho Miyazaki and Akira Kodaka)
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