BOJ39;s quarterly report signals several rate hikes forthcoming
Governor Ueda drops sign of rate hike around autumn this year
Ueda flags raising rates to level deemed neutral to economy
Analysts say BOJ could hike rates to 1 by around late 2025
BOJ39;s neutral rate estimate may serve as future policy cue

TOKYO, May 1 Reuters The Bank of Japan39;s decision to keep policy unchanged last week gave yen bears plenty of sell cues, but largely overlooked in the stampede were signals the central bank could raise rates in several stages in years ahead, with a hike possible in autumn.

The yen hit a fresh 34year low as markets focused on the BOJ39;s decision on Friday to keep interest rates around zero and a lack of signals from Governor Kazuo Ueda that the currency39;s falls may quicken the timing of the next rate hike.

BOJ watchers say while the central bank39;s quarterly report and comments from Ueda clearly suggest consecutive rate hikes are on the table, its failure to effectively communicate its policy intentions has exacerbated the yen39;s selloff.

In the quarterly report released on Friday, which serves as a basis for longterm monetary policy, the BOJ projected inflation to stay around its 2 target in the next three years, and said price growth was likely to be at a level generally consistent with its target from around late 2025.

The report also included for the first time language that the central bank would adjust the degree of monetary accommodation code for…