According to King Ten, former Bank of Japan policy member Makoto Sakurai said that the Bank of Japan may wait until October to consider whether to raise interest rates again after successfully negotiating to abandon its large-scale stimulus plan. Sakurai said a steady process of policy normalization could begin next year, possibly with rate hikes of 25 basis points every six months. He also pointed out that as long as the economy performs well, there will be a clear transition to normalization in fiscal year 2025. Regarding the issue that the fall of the yen has increased the possibility of action, Sakurai believes that unless the dollar against the yen rises above 160, the decision will be in the hands of Japan's foreign exchange affairs department.