A first, gentle shake

摘要

Soon, possibly this summer, the Bank of Japan (BOJ) will join the world's other leading central banks in raising interest rates. Many forecasters think that rates, zero since 1999 except for one brief (and disastrous) interlude, could be 0.5% by the end of the year and a giddy 1% some time in 2007. Some on the central bank's monetary-policy board even think that next year 2% may be needed, although others fear this would break Japan's recovering but still fragile economy.