On August 27th, according to a report by Jin Ten, Okasan Securities economist Ko Nakayama said in a research note that the Bank of Japan may raise interest rates from 0.25% to 0.5% in December, due to the improvement in inflation-adjusted wages. If the Bank of Japan becomes more confident in a virtuous circle of prices and wages, it may raise the policy rate by 25 basis points every six months, while paying attention to the impact on the market. Nakayama expects the Bank of Japan to raise its interest rate target to 0.75% in June 2025 and then to 1% in December 2025. Nakayama added that Japan's current end point interest rate could be around 1%.