[Citi: BOJ Rate Hike Expectations Strengthening, December Rate Expected to Rise to 1.50%] Jinshi Data, November 13th – Citi strategist Tomohisa Fujiki wrote in a report that market expectations for a Bank of Japan (BOJ) rate hike are strengthening, supported by a stock market recovery and strong inflation data. While the threshold for consecutive BOJ rate hikes remains high, the likelihood of continued quarterly rate increases has risen. “We believe that the high-volatility environment, partly driven by position adjustments, will persist in the short term.” Citi expects the BOJ to raise interest rates to 1.50% in December. This expectation is in line with market pricing, which reflects a 75% probability of a 25 basis point rate hike next month. Citi also expects the policy rate to rise to 1.75% in the first quarter, followed by a rise to 2.00% in the third quarter.