Institution: The latest forecasts from the Bank of Japan indicate there is still room for further interest rate hikes.
According to Odaily, the Bank of Japan's new estimate of the country's natural interest rate indicates that the central bank still has significant room to raise interest rates. The new data shows that the neutral rate may be between 1.1% and 2.5%, while the bank's current policy rate is 0.75%. In a report released on Friday, the bank stated that many of the indicators used in the latest estimate suggest that interest rates will gradually rise. This means the upper limit of the neutral rate may increase further, providing the Bank of Japan with greater scope for additional rate hikes.
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