BoJ policymaker signals increased rate hikes

The BoJ must raise rates further “if inflation moves roughly in line with forecasts, and companies continue to boost spending and wages”, board member Hajime Takata said. — AFP

KANAZAWA (Japan): The Bank of Japan (BoJ) must be vigilant to the fallout from recent market turbulence but stay on course to raise interest rates, its board member Hajime Takata says, reinforcing market expectations for further hikes in borrowing costs.

The remarks yesterday echoed those of BoJ governor Kazuo Ueda, who last month reaffirmed his resolve to raise rates again if inflation remained on track to sustainably hit the bank’s 2% target.