# BOJ seen lifting rates to 1.25%

> Economists expect Japan’s central bank to speed up rate hikes as inflation, wages and U.S. pressure reshape the call.
- Title: BOJ seen lifting rates to 1.25% · CNBC | Shortify
- Summary: Economists expect Japan’s central bank to speed up rate hikes as inflation, wages and U.S. pressure reshape the call. Markets are bracing for a faster BOJ…
- Keywords: bank of japan, boj, interest rates, rate hike, japan, yen, inflation, wages, kazuo ueda, scott bessent, nomura research institute, monetary policy
- Source: CNBC — https://cnbc.com/2026/09/16/boj-hike-rates-cnbc-survey.html
- Author: Lisa Kim
- Published: 2026-09-16T00:22:11+00:00
- Read time: 1 min
- Topics: bank of japan, boj, interest rates, rate hike, japan, yen, inflation, wages, kazuo ueda, scott bessent, nomura research institute, monetary policy
## Rates may rise Friday
Most surveyed economists expect the BOJ to lift rates by 25 basis points to 1.25% at the end of its two-day meeting.

> Most respondents expect the BOJ to hike this week by 25 basis points
## Tightening could speed up
A move this week would break the bank’s recent six-month rhythm, since its last rate increase came in June.

> A hike would signal an acceleration of the tightening cycle
## Inflation and pay push
Japan’s July inflation hit 1.9%, the highest this year, while real wages rose 2.4% for a seventh straight monthly gain.
## Washington adds pressure
U.S. Treasury Secretary Scott Bessent pressed BOJ Governor Kazuo Ueda to act on inflation expectations and currency swings.

> decisive market and monetary steps
## Dissent is still possible
Some analysts see room for holdouts, especially reflationist board members Toichiro Asada and Ayano Sato, both appointed this year.

> Data doesn't yet support a regime shift
## Yen seen capped
About 61% of respondents expect the yen to trade between 155 and 160 next month, with a stronger move past 150 seen as hard.

> will not be easy
## Key takeaway

Markets are bracing for a faster BOJ tightening cycle, but the yen may still struggle to strengthen much beyond 150.