Goldman Sachs Research discusses its latest BoJ rate outlook.

"Our economists revised their expected policy path to include hikes in September, January, and July for a terminal rate of 1.75%," GS notes.

"Following through with a September hike should avoid some of the nearer-term pressures on JPY and JGBs, but the revised path as a whole is not far from current pricing, which we think would still imply an onus on other efforts (such as encouraging repatriation) to help stem more sustained depreciation pressures on the Yen," GS adds.