Takenaka says BOJ rate hike came too early

Japan's former economic and fiscal policy minister Heizo Takenaka has criticised the Bank of Japan in an interview published Friday 9 March for increasing interest rates in February despite continued deflation.

"Deflation has still continued in Japan," he said in a recent interview with Kyodo News. "The biggest problem is an interest rate hike in the absence of economic overheating or inflation."

Takenaka warned in the interview that Japan's recent interest rate hike could herald an appreciatio