PANews reported on April 21 that, according to sources, the Bank of Japan (BOJ) is likely to keep interest rates unchanged next week due to the uncertainty surrounding the Iran war. However, officials remain determined to raise borrowing costs in the near future. Given the still-loose financial conditions, the bank is likely to maintain its stance that it must continue to raise the benchmark interest rate as long as conditions permit, even if the April 28 decision kept the overnight rate at 0.75%. These sources indicated that this increases the likelihood of action in June, provided the economic situation remains stable. These sources also stated that some officials still favor raising interest rates at the upcoming meeting because they expect geopolitical shocks to push up prices. According to another report earlier this month, the BOJ is also considering a significant upward revision of its inflation forecast at this meeting. These officials added that they will continue to monitor the US-Iran conflict until the very last moment before making a final policy decision.