Mizuho markets head expects BOJ to raise rates soon, more often

Mizuho Financial Group expects the Bank of Japan to pick up the pace of interest-rate hikes, with the next one coming as soon as next month, as the weak yen and inflation prompt the central bank to act more quickly. Kenya Koshimizu, co-head of the global markets division that manages the bank’s ¥41 trillion ($257 billion) securities portfolio, also anticipates longer-term rates to keep rising after 10-year Japanese government bond (JGB) yields hit a 30-year high this week. The upshot for Japan’s third-largest lender is that it will still avoid buying the nation’s bonds apart from inflation-linked notes and those that mature within a year, said Koshimizu.