According to Internet reports, according to Kim Ten, former board member of the Bank of Japan Hayuki Shirai said that if the bank wants to raise interest rates further, it may need to take action within this year, otherwise the window period will close. Japan's weak domestic demand makes no reason to raise interest rates. If the inflation rate falls below the central bank's 2% target, it will be more difficult to advance raising interest rates. She said: "The Bank of Japan may want to promote policy normalization when it can, even if it can only slightly correct excessive yen depreciation. However, Japan's economy is too weak, and fragile domestic demand is incompatible with the path of raising interest rates." Despite positive signs of wage growth in Japan, persistent inflation has curbed household spending. The latest government data shows that private consumption was flat from January to March. The central bank expects consumer inflation to slow below 2% in the next fiscal year starting in April 2026 and subsequent years, which Shirai believes will complicate further interest rate increases. Growth headwinds are also intensifying. Japan faces the risk of technical recession after its economy shrank in the first quarter. Exports to the United States fell in April for the first time in four months, highlighting the impact of high tariffs.