BoJ out of the Picture
The Bank of Japan (BoJ) on the other hand is unlikely to play a key role and Vamvakidis suggests it is unlikely the BoJ will rush to raise interest rates to combat rising inflation. Japan has the opposite economic problem to most of the rest of the world.
“Japan is a completely different case – inflation there is a solution, not a problem. They are happy to see persistent inflation. It is above the target but not by much. And they have a long history of 30 years deflation.
“They will remain very cautious, leaning in the other direction compared to the other central banks,” said Vamavakidis.
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