Japanese cabinet minister backs BOJ rate hike

Japan's Economic and Fiscal Policy minister Kaoru Yosano told public broadcaster NHK conditions are being met for an imminent rate hike by the Bank of Japan.

Yosano has supported the central bank's move to "normalize" monetary policy.

Yosano was quoted by NHK as telling a news conference that while conditions for the first rate hike by the BOJ in six years may "have not been met," they are in the process of "falling into place."

Yosano said he would honour a decision by the BOJ's policy board to