Nikkei 225 Index retreats as odds of BoJ interest rate hike jumps

The Nikkei 225 Index retreated for the fourth consecutive day as global equities continued the recent pullback, reaching a low of ¥56,355, down substantially from the year-to-date high of ¥58,000.  BoJ to hike interest rates in April  The Nikkei 225 Index retreated on Tuesday after an influential Japanese official hinted that the Bank of Japan will hike interest rates as early as in April. In a statement, Seiji Adachi, a former senior official at the Bank of Japan (BoJ) said that the most likely scenario is a hike in April. Adachi believes that a rate hike in March would be risky as it would be based on expectations and not confirmation. Odds of another interest rate hike rose after BoJ…