Japan's Muto reiterates commitment to tightening

The Bank of Japan will raise rates as the economy improves and inflation picks up Toshiro Muto, a deputy governor at the Bank of Japan said on Friday.

At 0.5%, Japan's benchmark rate is the lowest of any developed economy. The central bank was expected to raise rates earlier this year but avoided doing so because of the US subprime fallout.

Muto reiterated comments made by Atsushi Mizuno, regarded as the most hawkish member of the rate-setting board, in saying that the Japanese economy was unl

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