OECD urges caution on BOJ rate moves

The Organisation of Economic Cooperation and Development warned on Thursday 20 July that the Bank of Japan should not rush further interest rate increases while there is a risk of slipping back into deflation.

The warning followed the BoJ's move last Friday to raise interest rates above zero for the first time in six years.

In its Economic Survey of Japan, published Thursday, the OECD said Japan needed to focus on tackling its budget deficit and called on the BoJ to cooperate with the governme