Keeping rates low in Japan "could hurt growth"

Two members of the board of the Bank of Japan have dropped strong hints that the central bank is very much in tightening mode, suggesting that a continuation of low interest will hurt the economy.

The central bank's deputy governor, Toshiro Muto, said in a speech in Tokyo on 3 July that unless interest rates were raised soon, it could cause "large swings in economic activity and inflation."

In addition, Muto's fellow board member, Kiyohiko Nishimura, said that it was "not a prudent strategy" to