Mizuho Expects BOJ to Hike Rates Soon Amid Weakened Yen

Mizuho Financial Group Inc., a major Japanese bank, expects the Bank of Japan to raise interest rates soon and more frequently. According to Kenya Koshimizu, co-head of Mizuho's global markets division, the next rate hike is anticipated as early as next month.

The weak yen and rising inflation have prompted the central bank to act quickly, says Koshimizu. This move is expected to be followed by further rate hikes, with 10-year Japanese government bond yields reaching a 30-year high this week.

The ¥41 trillion ($257 billion) securities portfolio managed by Mizuho's global markets division will be affected by these changes in interest rates.