If Japan's Prime Minister Sanae Takaichi uses her "Basic Policy" economic blueprint--for which Cabinet approval is expected this month--to discourage additional interest rate hikes, it could push back the timing of the Bank of Japan's next move, says Nomura Research Institute economist Takahide Kiuchi. "Even if the government objects, the BOJ will raise rates when it judges doing so necessary--but it will likely show some degree of deference to the government's wishes regarding timing," he says. "Government pressure against BOJ rate hikes risks further weakening the yen and pressuring bond prices lower, which would undermine the stability of the economy and financial markets," he adds.(megumi.fujikawa@wsj.com)