Bank of America is expecting the BOJ to end its negative interest rate policy at its October meeting.
The Bank of Japan now has a window of opportunity to get interest rates"a little bit back closer to normal," said Izumi Devalier of BofA Global Research.
But BofA expects the BOJ to end its negative interest rate policy at its October meeting and move the ceiling on its 10-year yield target to 0.5% from the current 0.25%. In the near term, Japan's central bank could make a one-off policy adjustment to increase interest rates and to give a"little bit more flexibility" for long-term yields to trade, said the BofA chief Japan economist.
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