[JPMorgan: Besant Forces the Bank of Japan into a Rate-Hike Dilemma] After U.S. Treasury Secretary Scott Besant launched a public pressure campaign, Bank of Japan Governor Kazuo Ueda faces an exceptionally severe risk of financial market turbulence as the central bank approaches its policy decision this month. JPMorgan Securities' Chief Japan Economist Ayako Fujita stated: 'After such a clear stance from the U.S., it would be problematic if the Bank of Japan takes no action. However, if the market perceives that the Bank of Japan cannot raise rates without tailwinds from the U.S., it would pose a significant risk to the effectiveness of the rate hike.' 'The current pace of long-term interest rate increases is not actually the Bank of Japan's fault. What can truly curb both yen depreciation and the rise in long-term interest rates simultaneously is a credible fiscal signal from the government.' (Sina Finance)