Bank of America economist Takayasu Kudo wrote in a report that after the Bank of Japan raised its target interest rate from 0.5% to 0.75% at the meeting on December 18-19, it is expected to continue raising the policy rate every six months. He stated: "Based on recent corporate earnings, wage negotiations, the depreciation of the yen in the foreign exchange market, and discussions with the government, the Bank of Japan is increasingly confident that it can raise rates at the upcoming December meeting." The economist expects the Bank of Japan to raise rates in June 2026, followed by further increases in January and July 2027.