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The Bank of Japan's Policy Board member added a line stating that interest rate hikes should be implemented as soon as possible.
ME News, May 14 (UTC+8): A member of the Bank of Japan’s Policy Board, Masuichi, urged that if there are no signs the economy is getting into trouble, interest rates should be raised as soon as possible. He pointed out that, due to the impact of the Iran conflict, inflation risks are showing more persistent characteristics. “If the statistics do not show clear signs of an economic downturn, I think it is better to raise interest rates sooner,” said Masuichi. He added that while the rise in fuel prices caused by the Middle East conflict may be temporary, there is also a risk that this could accelerate Japan’s “already rising” logistics costs. “People are worried that these factors may not be just temporary shocks but instead reflect more persistent trends, creating a risk of pushing up prices,” said Masuichi. (Jin10) (Source: ODAILY)