Hawkish BoJ official wants rates to rise to 1%

Next move: The BoJ headquarters in Tokyo. The central bank is expected to leave rates unchanged at its next meeting on Sept 20. — AFP

OKAYAMA (Japan): The Bank of Japan (BoJ) must raise interest rates to at least 1% by late next year, hawkish policymaker Naoki Tamura says, reinforcing the bank’s resolve to persist with steady monetary tightening.

It was the first time a BoJ policymaker publicly specified a level the central bank should eventually target in pushing up short-term borrowing costs.