The BoJ is likely to raise its policy rate by 15 basis points to 0.25 per cent at its meeting next week, Ayako Fujita, economist at JPMorgan, said in a note. "The BoJ has long signalled that it will raise interest rates in response to rising confidence, and we believe that the recent pick-up in wage momentum and signs of a recovery in consumption since the spring will meet these conditions," said Ms Fujita. She said the BoJ was also expected to announce future purchases at next week's meeting.