WASHINGTON :The International Monetary Fund welcomes the Bank of Japan's decision to raise interest rates in July, but further hikes should proceed at a gradual pace, a senior IMF official said on Thursday. Krishna Srinivasan, the director of the IMF's Asia and Pacific Department, also said the global lender now expects the BOJ's policy rate - now at 0.25 per cent - to reach 1.5 per cent in 2027. "Given balanced risks to inflation, further hikes in policy rates should proceed at a gradual pace,"

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