Bank of Japan signals continued monetary tightening

The Bank of Japan's Policy Board is maintaining its stance on raising interest rates and has signaled the possibility of further monetary tightening, Bloomberg reported. According to a summary of the Monetary Policy Meeting released on March 30, one of the nine board members argued that interest rates should be raised without hesitation, provided there is no significant downturn in the economy. Traders are now pricing in a 69% probability that the Bank of Japan will raise rates at its next policy meeting, scheduled for April 28.