Haruhiko Kuroda, the former governor of the Bank of Japan known for launching a decade-long large-scale stimulus plan, stated that the Bank of Japan may continue to raise interest rates in the coming years, as inflation is expected to consistently reach the 2% target. "Although rate hikes are expected, the growth rate of the Japanese economy this year and beyond will exceed 1% as rising real wages support Consumer. The basic stance of the Bank of Japan seems to have remained unchanged in gradually raising interest rates while monitoring economic and price developments, as a wage-inflation positive cycle continues, which may keep inflation steadily at the target level of 2%. It is still uncertain how much the Bank of Japan will eventually raise rates, as it is difficult to estimate the level that neither cools down the Japanese economy nor overheats it."