Rate increase baked in, attention turns to BOJ’s outlook and mood

All analysts surveyed in one major poll expect the Bank of Japan to raise rates this week. What is not so clear is what happens next, with the market unsure about whether the central bank will set a course for higher rates or continue to stick to noncommittal, diplomatic language. Kazuo Ueda might provide some direction Friday when he holds a news conference after the bank’s two-day policy meeting ends.