The Bank of Japan is setting the stage for an era of steady interest rate hikes by claiming victory in its long battle with deflation, sources and analysts say, in a major review of past policy that nods to significant consumer behaviour shifts.
The findings would highlight how the central bank is drawing a line under former governor Haruhiko Kuroda's radical monetary stimulus, and creating a new narrative to herald a return to more conventional policy that targets short-term interest rates.
