Ex-BoJ's Taya sees one rate rise by year-end

The Bank of Japan is expected to raise interest rates once by the end of the year and twice in 2007, a former board member said on Thursday 6 April.

Teizo Taya, a member of the nine-member policy board until December 2004, said he disagreed with expectations in the money market that the BOJ would raise rates twice this year, both by a quarter of a percentage point from current levels around zero.

"The probability of a rate rise in July-September is 40 percent, while that for one in October or N