The Bank of Japan is expected to project inflation will stay around its 2 per cent target for the next three years in new forecasts due on Friday, signalling its readiness to raise interest rates again this year from current near-zero levels. But governor Kazuo Ueda will probably stress the BOJ's resolve to tread carefully and take a data-dependent approach in deciding the next rate hike given uncertainties on whether wage hikes will broaden and drive up prices in the services sector. "We will proceed cautiously, initially assessing the impact of our recent policy changes on the economy and inflation, then ... (full story)