EconomicsCentral Banks

BOJ Board Hawk Calls for Rate Hike as Japan’s Price Norm Shifts

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Bank of Japan Board Member Hajime Takata said the time is ripe for raising the bank’s policy interest rate, looking past political instability to reiterate his conviction after he dissented from a decision to hold policy steady last month.

“I believe that now is a prime opportunity to raise the policy interest rate,” Takata said Monday in a speech to local business leaders in Hiroshima, southwestern Japan. “The once deeply entrenched norm has waned in Japan, that the price stability target has been almost achieved.”

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