Global Market: BOJ nears historic inflation milestone, shifts focus to rate hikes

The Bank of Japan is nearing a historic milestone as it is expected to declare that it has successfully achieved its nearly 14-year goal of 2% inflation. This achievement is significant because it means the BOJ can shift its focus from keeping inflation low to considering rate hikes to control the economy. Rate hikes could have a major impact on global markets, particularly in Japan, and may be announced as early as December.

Why it matters

The Bank of Japan is expected to declare its nearly 14-year battle to achieve 2% inflation successful. The central bank may shift its focus to rate hikes, which could impact the economy and markets.

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