Goldman Sachs expects the BOJ to raise interest rates at its March meeting ending Tuesday, bringing forward its previous forecast for an April decision.
Goldman's Japan economist Tomohiro Ota cited stronger-than-expected salary gains at the annual"shunto" wages negotiations and subsequent Japanese news reports of an exit from negative rates at the BOJ's March meeting that ends Tuesday.
Goldman expects the BOJ to also abolish its yield curve control, which the central bank employs to target longer-term interest rates, by buying and selling bonds as necessary. While a slim majority of economists are still expecting the central bank to raise rate in April, an increasing number of economists have moved their forecasts forward to March in the last two weeks amid signs that salary negotiations this year will be far more robust than expected.
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