Bank of Japan committee member: Inflation targets may be reached earlier than expected, should consider raising interest rates as soon as possible

ChainCatcher News, Naoki Tamura, a member of the Bank of Japan's Policy Board, stated during a speech to business leaders in Fukushima Prefecture on Wednesday that the Bank of Japan should consider further interest rate hikes as soon as possible, as inflation may reach the target earlier than expected.

He said, "My basic idea is that the central bank will not bring any preconceived analytical data and various information, but will timely and appropriately raise the policy interest rate and adjust the degree of monetary easing based on the improvement of economic activity and prices, without rushing or delaying." He believes that the pace of inflation may exceed the Bank of Japan's expectations, forcing the central bank to take decisive action amid global uncertainties.