BoJ board member says rate hikes should continue
Noguchi calls for cautious approach to ensure inflation target is met
A member of the Bank of Japan’s board has said it should continue to raise interest rates, albeit cautiously.
In a speech on November 27, Asahi Noguchi said Japan’s economy was in a transitional phase in which wages and prices were both moving away from being flat and heading towards moderate growth. He said that during this transition the BoJ should manage rate hikes at a gradual pace that would keep inflation within the bank’s 2% target level.
Noguchi expected inflation to reach this target
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