Higher Oil Prices Might Not Significantly Boost BOJ Rate-Hike Pricing -- Market Talk

Dow Jones03-25

0252 GMT - Higher oil prices could accelerate underlying inflation in Japan, but market expectations for interest-rate hikes are unlikely to rise significantly, says SMBC Nikko Securities strategist Miki Den. "Even if the current surge in crude oil prices contributes to a rise in underlying inflation, the market likely views the possibility of high-paced rate hikes as low, given the BOJ's limited experience with tightening cycles," Den says. Even with a buildup of hawkish catalysts, there is limited room for market pricing to shift much further beyond current levels--which stand at roughly 2.5 hikes over the next year and four hikes over the subsequent two, the strategist says. (megumi.fujikawa@wsj.com)

(END) Dow Jones Newswires

March 24, 2026 22:52 ET (02:52 GMT)

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Even with a buildup of hawkish catalysts, there is limited room for market pricing to shift much further beyond current levels--which stand at roughly 2.5 hikes over the next year and four hikes over the subsequent two, the strategist says. 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Even with a buildup of hawkish catalysts, there is limited room for market pricing to shift much further beyond current levels--which stand at roughly 2.5 hikes over the next year and four hikes over the subsequent two, the strategist says. 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