[Former Bank of Japan Economist: U.S.-Iran Peace Agreement Will Not Alter BOJ Rate Hike Plans] Jin10 News, June 15 – Former Chief Economist of the Bank of Japan, Seisaku Kameda, stated on Monday that the peace agreement between the United States and Iran is unlikely to change the Bank of Japan's expectation of raising interest rates twice this year. With inflationary pressures intensifying, the BOJ is expected to raise the short-term policy rate from 0.75% to 1% on Tuesday. Kameda noted that, barring the outbreak of war in the Middle East, the rate hike should have originally occurred in April. He added that if the peace agreement leads to the smooth reopening of the Strait of Hormuz, it could alleviate some of the pressure on the BOJ to accelerate its rate hikes to curb inflation. "However, this will not change the BOJ's plan to raise rates approximately twice a year to push up the still-low real borrowing costs and normalize monetary policy," Kameda said. He pointed out that after the June rate hike, the BOJ is likely to raise rates again in either October or December. Additionally, BOJ Governor Kazuo Ueda will miss the June meeting as he is undergoing treatment for an infectious hepatic cyst in the hospital. Vice Governor Shinichi Uchida will preside over the press conference in his place. Kameda stated that Uchida is expected to reaffirm the BOJ's commitment to continued rate hikes, but given the persistent uncertainties in the Middle East situation, he will likely avoid giving a clear indication of the timing for the next rate hike.