The Bank of Japan could raise interest rates roughly once every three months and take its policy rate to 2% by around June next year as it seeks to contain mounting inflationary pressures, former BOJ board member Makoto Sakurai said on Thursday, according to Reuters.
The comments come after the central bank raised its benchmark interest rate to 1.25% in September, its highest level in 31 years. The move marked a further shift away from its long-standing ultra-loose monetary policy as inflation risks broaden.
