Japan's largest financial group CEO says Bank of Japan could end negative rates in January

<p>Mitsubishi UFJ Financial Group (MUFG) President Hiroki Kamezawa spoke in an interview with Japanese media outlet Asahi Shimbun/</p><p>MUFG is Japan's largest financial group and the world's second largest bank holding company.</p><p>Kamezawa said that the Bank of Japan's goal of rising prices accompanied by wage increases is "becoming visible as a major trend." </p><ul><li>"It's also a matter of timing. The sooner you take the first step from an abnormal situation, the better,"</li><li>Says that the end of negative rates could come as soon as any 2024 given the developments in wages and prices. </li></ul><p>—</p><p>Negative interest rate policy has put pressure on financial institutions' business operations because it reduces the profit margins they can earn when lending.</p><p>***</p><p>As a side note we've been hearing now of the Bank of Japan pivot for about two years. And still waiting. </p>

This article was written by Eamonn Sheridan at www.forexlive.com.