Former BOJ Board Member: The Bank of Japan Cannot Raise Interest Rates Again This Year

ChainCatcher message, former Bank of Japan board member Makoto Sakurai stated that given the recent market turmoil after the interest rate hike, and the low likelihood of a rapid recovery in the Japanese economy, the Bank of Japan will not be able to raise interest rates again this year, and it is still uncertain whether they can raise rates once before March next year. It is a good thing that the Bank of Japan wants to raise the interest rate to a normal 0.25%, but this requires a lot of effort, so "they should wait for a while" to determine whether to further raise rates.