Makoto Sakurai, a former member of the Bank of Japan's board of directors, said in a report on August 12 that the Bank of Japan will not raise interest rates again at least for the rest of the year, but whether it will raise interest rates once before March next year remains an uncertain question. The Bank of Japan suddenly raised its benchmark interest rate to 0.25% in early August, disrupting the yen carry trade, the yen soared in the foreign exchange market, and the stock and crypto markets were sold off sharply. Makoto Sakurai said that although the rate hike may have disrupted global markets, it is a much-needed change for Japan, moving from an almost zero interest rate to a normal 0.25% This is good; it is wise for the central bank to wait and see the effect of further rate hikes. (Cointelegaph)