BOJ to end negative rates, marking 1st hike in 17 years

TOKYO -- The Bank of Japan is expected to end its negative interest rates when its policy board meets on Monday and Tuesday, Nikkei has learned, marking the first rate hike since February 2007 in a turning point for the BOJ's long-running monetary easing policy.

The central bank sees a chance to normalize its monetary policy now that inflation appears set to remain at 2% or higher -- the BOJ's condition for changing its policy -- as big corporations and their labor unions agreed on substantial wage hikes this year.