OECD: Japan Interest Rate May Rise to 2% by End of Next Year
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The OECD predicts that Japan's interest rates may rise to 2% by the end of next year, urging the Bank of Japan to gradually increase rates to avoid economic overheating. The current rate is near the lower bound of the neutral rate range, which is estimated between 1.1% and 2.5%. Additionally, the OECD recommends raising the consumption tax to build fiscal buffers amid challenges like population aging and rising debt costs.
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