BOJ: 2015 rate hike under question
The economic conditions in Japan keep on worsening. According to the unnamed Bank of Japan officials, the central bank may cut economic forecasts for the fiscal year 2014 as exports fail to support the economy, weakened by the sales tax hike in April. Economic growth for the 12 months through March 2015 will be below 1% forecasted earlier.
Another related piece of news: Japan finance minister Aso said early Friday they will closely watch economic data from Q3 before deciding whether to hike rates in Octover 2015.