Golden Finance reported that PGIM Fixed Income said in a report that the Bank of Japan may raise the benchmark interest rate by 25 basis points again this year. However, if Japanese consumers increase consumption significantly, the Bank of Japan may speed up interest rate hikes. It pointed out that the Bank of Japan is raising interest rates to an important psychological level of 0.5% through a nominal policy rate of gradual interest rate hike. In the long run, PGIM believes that the Bank of Japan believes that nominal interest rates of at least 1% are appropriate.