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Market Chatter: BOJ Poised for Largest Rate Hike in Decades as Governor Absent From Meeting

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The Bank of Japan is poised to raise its key interest rate to a three-decade peak when its policy board convenes without Governor Kazuo Ueda present, Bloomberg News reported on Monday, citing its own survey.

Most analysts surveyed by Bloomberg predict a quarter-point hike to 1% when the two-day gathering ends on Tuesday, the news wire said.

Ueda, recently hospitalized for a liver-related infection, will submit written views to the board but will not participate in voting, the publication said.

The central bank confirmed the unprecedented arrangement as policymakers move toward their highest benchmark since the mid-1990s, the report said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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