BOJ early rate rise bets increase as yen reaches multidecade low

The Japanese central bank is coming under pressure to act and avoid falling behind the curve on inflation, especially as oil prices creep up over $100 per barrel. (Nikkei montage/Source photos by Nanami Sato, Hikaru Yagi and AP) US-Iran tensions escalate, fueling oil price surge and inflation worries TOKYO — Expectations are growing that the Bank of Japan will raise interest rates sooner than previously anticipated as the yen slides toward a four-decade low and inflation concerns stemming from the Middle East conflict reemerge.

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