Bank of Japan board member Hajime Takata highlighted the need for another interest rate hike if inflation continues to develop in line with the bank¡¯s outlook, although he indicated there¡¯s no need to rush any move.
¡°It will be necessary to adjust the degree of monetary easing by shifting up another gear¡± if inflationary trends align with projections, Takata said Thursday in a speech in Ishikawa Prefecture. ¡°We need to proceed with making a world with positive interest rates.¡±
Takata later told reporters at a news conference that he¡¯s seeing progress toward achieving a virtuous cycle in which rising wages spur spending, supporting demand-led inflation, but any policy moves will be conditional on data.
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