BoJ likely to raise interest rates before year end

Speaking at a seminar in Tokyo on Tuesday 7 November, the governor of the Bank of Japan, Toshihiko Fukui, indicated that he would be in favour of raising interest rates in anticipation of higher inflation.

The backdrop to the planned rate hike is the semiannual economic report released last week, in which the BoJ forecast that Japan will likely see 0.5 percent inflation in terms of the consumer price index in fiscal 2007 and a 0.3 per cent CPI rise for fiscal 2006.

In July, the central bank had

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