Bank of Japan expectations rise for interest rate hikes above 2%

The Bank of Japan expects to raise the benchmark interest rate above 2% by the end of the year, following its recent increase to 1%, the highest level in 31 years, in an effort to curb inflation that could exceed 2% with ongoing wage momentum. Commercial activities have not been impacted so far, as bank lending remains strong and corporate financial conditions are improving. The main challenge lies in convincing households and businesses of price stability amid inflation expectations that may surpass the target during the coming year.

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