Japan’s central bankers meet this week, and what they decide has the potential to move markets around the world.
While policymakers in the United States and elsewhere either are preparing to cut interest rates or have already done so, the Bank of Japan is only just beginning to raise them.
“Japan is in a different world,” said Kei Okamura, a portfolio manager based in Japan at the investment firm Neuberger Berman.
The Bank of Japan cut interest rates below zero in 2016 and kept them there until March, when it announced the first rate increase in 17 years, as the economy showed signs of recovery from anemic growth and low inflation.
Economists believe the central bank might raise rates again at its upcoming meeting, which concludes on Wednesday.
Persons:
”, Kei Okamura, Neuberger Berman
Organizations:
Bank of Japan, The Bank of Japan
Locations:
Japan, United States