0448 GMT - The Bank of Japan is likely to raise the policy rate by 25 bps once more this year, PGIM Fixed Income says in a note. However, the central bank could accelerate rate hikes in the event Japanese consumers materially step up consumption, it says. The BOJ is approaching a nominal policy rate of around 2% via gradual rate hikes, with the latest increase taking the rate to the psychologically important level of 0.5%, it notes. In the long term, PGIM thinks the BOJ sees an appropriate policy rate of at least 1% on a nominal basis. (monica.gupta@wsj.com)

(END) Dow Jones Newswires

February 11, 2025 23:48 ET (04:48 GMT)

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