TechFlow News: On February 17, according to JIN10 Data, former Bank of Japan (BOJ) Policy Board member Seiji Ando stated that the BOJ is highly likely to use the substantial new data set due to become available in April as an opportunity to raise interest rates—disregarding market speculation about a potential rate hike in March. In an interview on Monday, Ando said: “A March rate hike would carry risks, as it would be based on expectations rather than confirmed signals. In April, we will receive a large volume of data to confirm improvements in underlying inflation.” Ando’s view aligns with growing market expectations that the committee led by BOJ Governor Kazuo Ueda may act in the spring—a timeline earlier than most economists had predicted following the central bank’s last rate hike in December. He noted that although some worry Prime Minister Sanae Takaichi could impede the BOJ’s policy normalization process—especially after her overwhelming electoral victory last week—she is unlikely to block a rate hike, as such intervention could backfire. Ando added: “Takaichi appears increasingly sensitive to market dynamics. If she were to tell the BOJ not to raise rates, the likely market reaction would be yen depreciation.”
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