Economists from BNP Paribas have indicated that despite significant uncertainty in the Middle East, the summary of opinions from the Bank of Japan's March meeting suggests a potential rate hike in April. According to Jin10, they noted that in the current economic environment, the extent to which rising import costs are passed on to prices is quite significant. As a result, many policy committee members may feel it necessary to prioritize the risk of upward inflation expectations. They added that if tensions in the Middle East ease in the coming weeks and crude oil prices stabilize to some extent, thereby reducing economic downside risks, the Bank of Japan may find it easier to shift towards a rate hike at the April meeting.