Former BOJ Chief Economist Sees December Rate Hike, 2% Terminal Rate

Cointime reports: Seisaku Kameda, a former chief economist at the Bank of Japan, said Friday he expects the BOJ to raise interest rates in December and keep tightening until the policy rate reaches 2%. He said the global selloff that hit Japanese stocks is unlikely to derail a December move unless volatility persists into the Dec. 17-18 policy meeting, and projected a hike to 1.5% next month followed by roughly quarterly increases.