[Former Bank of Japan Official: Conditions for a Rate Hike in Japan Next Month Are in Place] Jin10 News, August 25 – Former Bank of Japan official Seiji Adachi stated that the Bank of Japan is very likely to raise interest rates next month, which would confirm widespread market predictions. In an interview, Adachi said: 'The Bank of Japan has essentially found itself in a dilemma. The market has almost fully priced in a rate hike. If the central bank does not raise rates, the yen could weaken significantly again.' Previously, U.S. Treasury Secretary Besant pointed out that policy actions are needed following foreign exchange interventions and expressed hope that Bank of Japan Governor Kazuo Ueda would raise interest rates. 'Besant has repeatedly hinted that the Bank of Japan will be the next institution to take action,' Adachi said. 'Given this, the government cannot tell the Bank of Japan "don’t do it."' Adachi noted that Japan's inflation momentum is strong, and after the expected rate hike in September, the Bank of Japan is likely to continue raising rates. He stated: 'I believe the Bank of Japan will take action again in January next year. The rate hike cycle is very likely to last for some time, even surpassing the previously assumed endpoint of 1.25% or 1.5%.'