Bank of Japan Feeling Better but Not Raising Rates Anytime Soon

The Bank of Japan raised its 2017 growth forecasts on Tuesday, but that doesn't mean it's going to move interest rates out of negative territory.
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The Bank of Japan struck an optimistic tone and raised its 2017 growth forecasts at its final policy meeting of the year on Tuesday, but that doesn't mean it's going to move interest rates out of negative territory anytime soon.

The Bank of Japan pushed rates into negative territory back in February only to see its yen currency strengthen. But since Donald Trump clinched the U.S. presidential election in November, the yen lost steam against the dollar. James Hughes, chief market analyst at GKFX, based in London, said a rate increase by the central bank in 2017 is too premature.