Mizuho Expects BOJ Rate Hike as Soon as Next Month

Mizuho Financial Group Inc., one of Japan's largest banks, is expecting a rate hike from the Bank of Japan (BOJ) as soon as next month. This comes after a recent surge in inflation and a weak yen, prompting the central bank to act more quickly. The BOJ has been under pressure to address these issues and stabilize the economy.

Kenya Koshimizu, co-head of global markets at Mizuho Financial Group Inc., anticipates longer-term rates will continue to rise after 10-year Japanese government bond yields hit a 30-year high this week. The current securities portfolio managed by Koshimizu's division stands at ¥41 trillion ($257 billion).