[Former Bank of Japan Policy Board Member: Central Bank May Raise Interest Rates Before July Due to Rising Price Pressures] Jin10 News, April 7 – Former Bank of Japan Policy Board member Seiji Adachi stated on Tuesday that the Bank of Japan is highly likely to raise interest rates before July, as the Middle East war has caused oil costs to surge, increasing the risk of the central bank falling behind the curve in addressing growing inflationary pressures. Seiji Adachi noted that the core inflation rate has already reached the central bank's 2% target, and last week's Tankan survey showed that companies' five-year inflation expectations have risen to 2.5%. He said the surge in oil prices and supply constraints caused by the Iran war provide further justification for the central bank to soon raise its short-term policy rate from the current 0.75%. He remarked, 'The Bank of Japan would be better off raising rates to a neutral level for the economy as soon as possible,' adding that Japan's neutral rate is likely around 1.25%. However, Seiji Adachi stated that the likelihood of a rate hike in April is '50%' because the Iran war has kept markets volatile and clouded Japan's fragile economic outlook.