Rakuten Bank CEO Sees BOJ Rate Hike by October Lifting Profit [Yahoo! Finance]
RAKUTEN GROUP INC S/ADR (RKUNY)
NASDAQ:AMEX Investor Relations:
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Source: Yahoo! Finance
March, in a move that will likely boost profits for the Japanese online financial firm. Most Read from Bloomberg Homebuyers Are Starting to Revolt Over Steep Prices Across US Key Engines of US Consumer Spending Are Losing Steam All at Once Saudi Arabia Puts Wall Street on Notice to Set Up Shop in Riyadh Modi Set for Landslide Election Win in India, Exit Polls Show Mnuchin Chases Wall Street Glory With His War Chest of Foreign Money Given the yen's fall against the dollar, the BOJ is likely to take action in October at the latest, Chief Executive Officer Hiroyuki Nagai said in a Bloomberg Television interview with Shery Ahn. “Now that the Bank of Japan has scrapped its negative interest rate policy, earnings and profits for financial institutions will increase significantly as interest rates rise,” Nagai said. “We've already begun to benefit, and we believe we will receive even more benefits than we do now if the BOJ continues to raise rates.” That may boost parent Ra
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