According to CoinMeta, former Chief Economist of the Bank of Japan seisaku kameda stated on Friday that he expects the Bank of Japan to raise interest rates in December and to continue increasing borrowing costs next year until interest rates reach 2% in order to address the increasingly severe inflationary pressures. He mentioned that the sell-off that swept through global markets on Friday caused a significant decline in the Japanese stock market, but unless market volatility persists until the eve of the monetary policy meeting on December 17-18, it is unlikely to prevent the Bank of Japan from raising rates next month. He said, "If the AI craze completely collapses and leads to a severe downturn in the U.S. economy, which in turn impacts the Japanese economy, then the Bank of Japan may pause its rate hikes." He believes that under other circumstances, the Bank of Japan is likely to raise the policy rate to 1.5% in December and then continue to raise rates at approximately quarterly intervals until the ultimate rate level of 2% is reached. kameda stated, "The Japanese economy can withstand such rate hikes as long as corporate profits remain strong and the food tax cut plan is expected to support consumption."