A dovish Bank of Japan board member pointed to the rising need for an interest rate hike signaling broadening support for action, although he also tempered his message by highlighting continued overseas risks.
“Various economic indicators for Japan show steady progress in achieving the 2 percent price stability target,” Asahi Noguchi said Monday in a speech in Hokkaido, northern Japan, according to the text of his speech released by the BOJ. “This suggests that the need to adjust the policy interest rate is increasing more than ever.”