Former Bank of Japan official says there is a 50% chance of a rate hike in April

Eiji Maeda, a former official in charge of monetary policy at the Bank of Japan, stated that even with the uncertainty brought about by the Iran conflict, the probability of the Bank of Japan raising interest rates in April is still about 50% after keeping rates unchanged in March. He believes that there is a 50% chance of a rate hike in April or June, with a rate hike in April being more prudent. The overnight swap market shows that traders expect a probability of about 60% interest rate hikes in April. Maeda pointed out that if the Bank of Japan does not take action in April, the yen may further weaken, and breaking through 160 against the US dollar will increase market risks. The current yen has become 'quite weak', and a slight correction would be more comfortable for businesses and households.