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Bank of Japan Likely to Raise Benchmark Rate in June, Former Board Member Says
Makoto Sakurai, who served on the Bank of Japan board from 2016 to 2021, said the central bank will probably increase its benchmark rate at the June 15-16 meeting. He stated that delaying action could leave policy behind the curve amid inflation pressures and uncertainties from the Iran conflict.
May 29, 4:48 AM·1m read1 source
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The Bank of Japan will probably raise its benchmark rate at its June 15-16 meeting, according to Makoto Sakurai, who served on the central bank's board from 2016 to 2021. Sakurai said in a Friday interview that officials need to act now to avoid falling behind in addressing inflation.
He added that missing the June window could force an indefinite postponement of the next rate increase because of uncertainties tied to the Iran conflict.
"They will probably raise rates this time," Sakurai said. "If they don't, their policy will fall into a state of being behind. " The former board member described the June session as a critical decision point for the central bank.
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