Ex-BoJ board member rules out another interest rate hike this year

TOKYO: The Bank of Japan (BoJ) won’t be able to raise the policy rate again this year, given the market turmoil that followed its recent hike and the low likelihood of the nation’s economy seeing a rapid recovery, according to a former board member.

“They won’t be able to hike again, at least for the rest of the year,” former board member Makoto Sakurai said in an interview.