Bank of Japan to consider rate hike, outline bond taper plan

TOKYO: The Bank of Japan will consider raising interest rates on Wednesday, a source familiar with the matter said, a move that would accompany a quantitative tightening plan in a sign of its resolve to steadily unwind a decade of massive stimulus.

The decision comes as the U.S. Federal Reserve looks to cut interest rates, possibly as early as September, reversing an aggressive rate-hike cycle that drove up the dollar and caused a painful yen sell-off for Japan.