ING Group: Short-term data supports the Bank of Japan's interest rate hike cycle

Gate News bot message, the International Group (ING) stated that the short-term survey data for the second quarter released earlier by the Bank of Japan shows that, despite the uncertainties of the trade war, both large and small enterprises in Japan remain generally optimistic. Manufacturers have maintained an optimistic outlook, as evidenced by the manufacturing PMI entering expansion for the first time in 12 months.

ING stated that the Bank of Japan may raise interest rates this year, but possibly after the signing of the Japan-U.S. trade agreement. ING Group expects an increase of 25 basis points in October, but if the trade agreement is reached earlier than expected and the terms are more favorable, the rate hike may occur in September.