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Institutional investors will also return, if only because of the difference between the earnings yield, which is currently a good six percent, compared to Japanese government bonds, which barely yield any returns. At its next central bank board meeting at the end of March, the BoJ may raise the short-term interest rate slightly, which has remained at minus 0.1 percent since the beginning of 2016. However, this will do little to change the overall favorable monetary environment for the Tokyo stock exchange