Goldman Sachs expects the Bank of Japan to hike rates

04:54

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Asia Pacific

Goldman Sachs expects the Bank of Japan to hike rates

Japan's Nikkei 225 is leading the gains in Asia-Pacific markets on Monday, and Chinese shares are also soaring after data showed its economy started the year on a strong note. Goldman Sachs expects the Bank of Japan to raise interest rates tomorrow, which would be the first time in 17 years - economists cite stronger-than-expected salary gains at the annual 'shunto' wages negotiations. In China, retail sales rose 5.5%, industrial production climbed 7%, fixed asset investments rose more than expected too and the unemployment rate for cities came in at 5.3%. Despite the upbeat results, National Bureau of Statistics cautioned that domestic demand remains insufficient and that more policy easing is necessary, if country wants to achieve 5% growth target this year.