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Toru Fujioka
A Bank of Japan board member signals further rate hikes may be needed to complete policy normalization, fueling speculation of an early increase.
BUSINESS / Economy
Feb 6, 2026
BOJ board member adds to signals pointing to interest rate hikes
“I am convinced that continuing with further policy interest rate hikes will be needed to complete the normalization of monetary policy in Japan,” Kazuyuki Masu said Friday.
The Bank of Japan's summary of opinions signals the possibility of Gov. Kazuo Ueda’s board raising the benchmark rate at a faster pace than the market consensus estimate.
BUSINESS
Feb 2, 2026
BOJ summary suggests emerging urgency around timely rate hikes
The summary signals the possibility of Gov. Kazuo Ueda’s board raising the benchmark rate at a faster pace than the market consensus estimate.
Monthly figures released Friday by the Finance Ministry confirmed that Japan didn’t spend any money on direct intervention to bolster the yen in the four weeks up to Jan. 28.
BUSINESS / Markets
Jan 31, 2026
Japan gets breathing room for yen by leaning on U.S. fear factor
Monthly figures released Friday by the Finance Ministry confirmed that Japan didn’t spend any money on direct intervention to bolster the yen.
The Bank of Japan's holdings of commercial papers could hit zero in the coming weeks,  underscoring Gov. Kazuo Ueda’s persistent march toward normalizing an extraordinary monetary easing program that lasted for more than a decade.
BUSINESS
Jan 29, 2026
BOJ set to see progress with balance sheet cuts with CPs at zero
The outstanding amount of commercial paper holdings on the central bank’s books has dropped to ¥29.9 billion as of Jan. 20, according to BOJ data last week.
Prime Minister Sanae Takaichi’s proposed plan to cut consumption tax on food risks undermining Japan's finances in the long term, S&P Global Ratings says.
BUSINESS / Economy
Jan 22, 2026
Takaichi’s plan to cut tax on food may worsen Japan’s finances, S&P says
The remarks come as superlong bond yields log a historic rise after the prime minister said she would lower the sales tax on food for two years if successful in a snap election.
The most popular timing for the next hike is July, by a wide margin, with 48% of economists picking that month, according to the Bloomberg’s survey of 52 economists.
BUSINESS / Economy
Jan 16, 2026
BOJ watchers see next rate hike by July with yen as the X factor
All the respondents to a survey predicted policymakers will keep the benchmark rate unchanged at the next BOJ gathering this month, with the most popular timing being July.
The Bank of Japan's headquarters in Tokyo
BUSINESS / Economy
Jan 9, 2026
BOJ indicates it’s eyeing more rate hikes with regional report
Most BOJ watchers expect the pace of rate hikes to be once in every six months or so.
Bank of Japan Gov. Kazuo Ueda
BUSINESS / Economy
Jan 5, 2026
Ueda highlights BOJ’s intention to keep raising rate to bankers
The central bank raised its benchmark rate to 0.75% on Dec. 19, the highest level in three decades, with some expecting the next move to come around the middle of the year.
Bank of Japan Gov. Kazuo Ueda attends a meeting with business lobby  Keidanren in Tokyo on Thursday.
BUSINESS / Economy
Dec 25, 2025
Ueda signals further hikes with more confidence over price goal
The remarks underscore investor expectations that the bank isn’t done with hikes even after it raised borrowing costs to the highest level since 1995 last Friday.
The Bank of Japan plans to offload its substantial holdings of exchange-traded funds little by little, to avoid roiling markets.
BUSINESS / Economy
Dec 16, 2025
BOJ may begin decadeslong sale of ¥83 trillion ETF hoard from January
The bank will offload the assets little by little to avoid roiling markets, as was decided at a September policy board meeting, people familiar with the matter said.
The Bank of Japan's <i>tankan</i> survey showed that confidence among large manufacturers in Japan has risen to the highest level in four years, while the gauge for nonmanufacturers has remained near the strongest level since the early 1990s.
BUSINESS / Economy
Dec 15, 2025
Japan’s factory sentiment improves, firming up BOJ hike case
The business sentiment index advanced to 15 this month from 14 in September, the BOJ’s quarterly tankan business survey has shown.
All 50 economists expect the Bank of Japan to raise its benchmark rate to 0.75% at a policy meeting set to conclude next Friday, a Bloomberg survey of BOJ watchers found.
BUSINESS / Economy
Dec 12, 2025
All economists in a recent poll predict BOJ will raise rates
The central bank is expected to restart its cycle of hikes after pausing for months to assess the impact from U.S. President Donald Trump’s tariff campaign.
Hideo Hayakawa, a former executive director of the Bank of Japan, says he expects multiple rate hikes by the central bank by 2027, with the terminal rate probably around 1.5%.
BUSINESS / Economy
Dec 11, 2025
BOJ likely to conduct multiple hikes ahead, former official says
Hideo Hayakawa, a former executive director of the central bank, says the terminal rate is probably around 1.5%.
Bank of Japan Gov. Kazuo Ueda attends a new conference in Tokyo on Sept. 19
BUSINESS / Economy
Dec 9, 2025
BOJ’s Ueda says Japan is getting closer to sustainable inflation
“We are closer to 2% inflation on a sustained basis,” Ueda said in an interview. “I can say that I think.”
Bank of Japan Gov. Kazuo Ueda speaks at a meeting with business leaders in Nagoya on Monday.
BUSINESS / Economy
Dec 1, 2025
BOJ’s Ueda sends clear hint at chance of December rate hike
The central bank “will consider the pros and cons of raising the policy interest rate and make decisions as appropriate,” he told local business leaders in Nagoya.
Consumer prices excluding fresh food in the Tokyo area advanced 2.8% in November from a year earlier, matching the result for the previous month.
BUSINESS / Economy
Nov 28, 2025
Tokyo inflation beats forecast, keeping BOJ on rate hike path
Consumer prices excluding fresh food in the capital advanced 2.8% this month from a year earlier, the internal affairs ministry said Friday.
The value of the Bank of Japan’s holdings of exchange-traded funds reached a record high at the end of September thanks to a stock rally.
BUSINESS
Nov 27, 2025
BOJ’s unrealized gains from ETFs surge before offloading begins
The market value of the Bank of Japan’s holdings of exchange-traded funds reached a record high at the end of September, according to a financial statement.
Junko Koeda, a Bank of Japan board member, has hinted that there is a chance of a rate hike when the bank delivers its next policy decision on Dec. 19.
BUSINESS
Nov 20, 2025
BOJ board member suggests chance of December hike after yen drop
In her first speech since joining the board in March, Junko Koeda indicated there’s a chance of a rate hike when the bank delivers its next policy decision on Dec. 19.
Bank of Japan’s headquarters in Tokyo
BUSINESS / Economy
Nov 19, 2025
BOJ unlikely to hike before March, says panelist advising Prime Minister Takaichi
Goushi Kataoka, a member of Takaichi’s economic growth strategy panel, estimated that a supplementary budget of around ¥20 trillion would be necessary this fiscal year.
The Bank of Japan's September meeting minutes make clear that Japan’s experience with more than a decade of deflation is keeping some members cautious as they await more data.
BUSINESS / Economy
Nov 5, 2025
BOJ minutes highlight caution rooted in Japan’s deflationary era
The minutes shed light on the discussions surrounding policy at the September meeting, when Gov. Kazuo Ueda faced for the first time two votes against keeping rates on hold.

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