A former central bank executive in charge of monetary policy said that the Bank of Japan is likely to raise the benchmark interest rate for the second month in a row at the October policy meeting, which is earlier than most economists' expectations. In an interview with the media recently, former executive director Kazuo Monma said, “The basic pace is probably to raise interest rates every three months, but there is also a reasonable possibility that the central bank will raise interest rates at consecutive meetings. I think the probability is around 20% to 30%.”

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