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A CNBC survey indicates the Bank of Japan is expected to raise interest rates by 25 basis points, pushing borrowing costs to their highest level in roughly three decades. The anticipated move underscores Japan's gradual shift away from ultra-loose monetary policy as inflation pressures persist. The expected hike would mark a significant milestone in Japan's monetary normalization and could have ripple effects on global bond yields and the yen, given Japan's historical role as a source of cheap global liquidity.