The Bank of Japan already has a free hand to decide when to raise interest rates. The bank will probably take action in the third quarter.
More Quotes from Hiroaki Muto:
There's no doubt that the economy is emerging from deflation, and is at little risk of slipping back into it.Hiroaki Muto
The pace of consumer spending in the first half was too strong, so it will be slower in the second. The gradual increase in wages and decrease in unemployment will continue.
Hiroaki Muto
The latest trade figures confirm that Japan's economy is recovering steadily and modestly.
Hiroaki Muto
Business spending is evidently strong and will remain so for the rest of the year, driving overall economic growth.
Hiroaki Muto
Wage and labor conditions have been a lot stronger than expected. We expect the bank to end its zero-rate policy in the third quarter.
Hiroaki Muto
The report paves the way for the Bank of Japan to lift interest rates at least once this year. The Japanese economy gives no reasons to restrict the bank's successive rate increases after the first one.
Hiroaki Muto
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