TOKYO ― The Bank of Japan (BoJ) is likely to raise interest rates in coming months with January emerging as the most likely timing, when there will be more clarity on political and market developments, former BoJ board member Makoto Sakurai said on Tuesday.
The central bank will eventually aim to raise short-term borrowing costs ― currently at 0.25 percent ― to 1.5 percent or 2 percent by the end of Governor Kazuo Ueda's term in April 2028, he said.