TOKYO: The Bank of Japan must raise interest rates to at least 1% by the second half of the fiscal year beginning in April, hawkish board member Naoki Tamura said on Thursday, remarks that pushed up the yen as they reinforcing bets of a near-term rate hike.
Inflationary risks were building up as companies continue to pass on rising raw material and labour costs, which required lifting the BOJ's policy rate to levels deemed neutral to the economy, he said.
