BOJ can gradually raise interest rates from early 2024: OECD

Economy

The Bank of Japan can start raising interest rates from early 2024, given that inflation will likely remain above the central bank’s 2 percent target and wage dynamics are also changing, the Organization for Economic Cooperation and Development said Thursday.

In its economic survey report on Japan, the OECD also urged the BOJ to make its yield cap program more flexible, warning of renewed market pressures to scrap it.

The Paris-based club stressed the need for heavily indebted Japan to draw up a “clear and credible” road map to restore its fiscal health, the worst among advanced economies, as ...

Kyodo News

Bank of Japan Kyodo News