According to CoinMeta, economists from Sumitomo Mitsui SMBC Securities stated that it is unlikely for the Bank of Japan's policy interest rate to reach 2%. They expect the BOJ to raise the policy rate from the current 1% to 1.25% at its September meeting, and to raise it again in January and June 2027, with the final policy rate expected to reach 1.75%. They added that inflationary pressures driven by imports are expected to ease after next summer, so it is unlikely for the BOJ to raise the policy rate to 2%. The overnight index swap market indicates that there is an 84% probability of a rate hike by the BOJ in September, with two more hikes expected by the beginning of 2027.