The Bank of Japan will likely raise interest rates three more times to 1.5 per cent during Governor Kazuo Ueda's remaining term through early 2028, former central bank board member Makoto Sakurai told Reuters on Monday. The first hike to 1.0 per cent could come around June or July next year depending on the strength of the U.S. economy, as well as domestic wage and price developments, Sakurai said. Further rate increases could become more challenging as they would bring borrowing costs closer to levels deemed neutral to the economy, and draw criticism from reflationist advisors of dovish premier Sanae Takaichi, he ... (full story)