According to ChainCatcher, Naoki Tamura, a Bank of Japan board member, said in a speech to business leaders in Fukushima Prefecture on Wednesday that the Bank of Japan should consider raising interest rates as soon as possible, as inflation may reach its target earlier than expected.
He stated: "My basic idea is that the central bank will consider policy rate adjustments without any preconceived analysis data and various information, timely and appropriately adjusting the degree of monetary easing based on improvements in economic activity and prices, neither hastily nor slowly." He believes that the inflation rate may rise faster than the Bank of Japan's expectations, forcing the bank to take decisive action amid global uncertainty.
