Bank of Japan Set to Raise Interest Rates to 30-Year High

BANK OF JAPAN / BOJ - TOKYO. The Bank of Japan is set to raise interest rates on Friday to a three-decade high and signal its readiness to eye further hikes beyond next year, underscoring its conviction that sustained wage gains will keep inflation durably around its 2% target.

While a hike still keeps its policy rate low by global standards, it would be another landmark step in Governor Kazuo Ueda's efforts to normalise monetary policy in a country long accustomed to unconventional easing and near-zero rates.