Former Bank of Japan Policy Board member: The Bank of Japan may raise interest rates twice before the end of March

```htmlOn Tuesday this week, the central bank raised its short-term policy rate to 1%, marking a 31-year high. The reason given for the rate hike was to prevent core inflation from exceeding the 2% policy target. This is completely different from the explanation logic given for previous rate hikes, when the central bank stated that rate increases reflected confidence in sustainably achieving the 2% inflation target. In an interview, Makoto Sakurai said: "This is a major turning point in monetary policy, indicating that the Bank of Japan has clearly shifted its focus towards curbing inflation." "This move shows the central bank’s growing concern about inflation risks and will greatly impact the future rate hike path." Makoto Sakurai is currently still in close communication with incumbent central bank policy officials.```