Bank of Japan Member: Will Support Interest Rate Hikes If Inflation Is Driven by Demand and Wages

Tsuchhiro Asada, a member of the Bank of Japan's Board of Directors and the sole dissenting voice against interest rate hikes last June, stated that he would support an increase in interest rates if inflation becomes clearly driven by domestic demand and wages. He is monitoring how quickly rising costs are being passed on to consumers, amid growing inflation pressures in the country. He emphasized that future rate decisions will depend on an assessment of economic conditions and the achievement of the 2% inflation target.

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