ING Advances BoJ Rate Hike Forecast to October from December

According to ING analysts on June 26, the bank has advanced its expectations for Bank of Japan rate hike timing to October from December, citing strengthening second-round effects from oil price increases and increasingly hawkish signals from BoJ officials.

The revision reflects expectations that core inflation in Japan may accelerate further in coming months, prompting the analyst team to bring forward their rate hike forecast by two months.