A rate hike is expected at the Bank of Japan’s September meeting, with a move from the current rate, set in 0.10-percentage-point increments, to 1.25% widely seen as the most likely outcome. Views are also spreading that external pressure, particularly developments in the United States, is supporting this outlook.
The Bank of Japan is scheduled to hold its monetary policy meeting on 17 and 18 September. In a survey conducted by Nikkei QUICK News from 31 August to 4 September, all respondents expected the policy rate to be raised from the current 1.00% to 1.25%.
Some analysts say that external pressure from the United States has had a major influence on growing expectations of a rate hike at the September meeting. Remarks by U.S. Treasury Secretary Scott Bessent (ベッセント) have been cited as one basis for this view.