Japan remains confident and keeps interest rates on hold

The outlook for Japan this year is positive, despite the surprise decision by the Bank of Japan last month not to raise interest rates. In a 6-3 vote, the central bank's policy board kept its benchmark interest rate steady at 0.25%. However, Kunio Tomiyama, head of Japanese equities at Credit Suisse, says he now expects the interest rate to rise by 0.25% in February. Andrew Jenner, director, head of investment at Mitsubishi UFJ Asset Management (UK), who had also expected a rise in January, says there are several cycles operating at any one time in Japan and positives can be found. He s...