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BOJ’s dovish rate hike unlikely to derail Tokyo stocks’ upside

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Analysts generally view the BOJ’s move as a sign of confidence that growth stimulated inflation can be sustained.

Analysts generally view the BOJ’s move as a sign of confidence that growth stimulated inflation can be sustained.

PHOTO: AFP

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The

rate hike by the Bank of Japan

(BOJ) is a non-event as far as Japanese equities are concerned, and the upside for Tokyo stocks remains intact.

That seems to be the prevailing view among analysts after the BOJ hiked rates for the first time in 17 years, effectively ending the world’s last negative interest rate.

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