0123 GMT - The Bank of Japan is likely to consider the timing of its next interest-rate increase after confirming how U.S. tariffs affect the Japanese economy and whether this year's pay raises in Japan will lead to a recovery in consumption, says Norinchukin Research Institute economist Takeshi Minami. "If the domestic economy deteriorates due to Trump's tariffs, rate hikes will likely be put on hold for a while. However, if a severe downturn is avoided, the bank could consider a rate increase as early as this autumn," he says. Despite trade uncertainty, the BOJ has maintained a stance of seeking further rate increases. (megumi.fujikawa@wsj.com)

(END) Dow Jones Newswires

May 22, 2025 21:23 ET (01:23 GMT)

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