According to CoinMeta, former senior Japanese foreign exchange diplomat and former Vice President of the International Monetary Fund, Manhiro Kuze, stated that the Japanese yen is currently significantly too weak and is harming the Japanese economy by increasing import costs. He expects the Bank of Japan to raise interest rates in September and may do so again in December or January next year, with the ultimate goal of raising interest rates to around 1.5% to 1.75%. He pointed out that intervention can only buy time, and a more fundamental solution is to accelerate the pace of interest rate hikes.