BOJ must conduct rate hikes nimbly, hawkish board member says

The Bank of Japan must conduct interest rate hikes with speed and precision, according to hawkish board member Hajime Takata. Takata emphasized the need for the central bank to move beyond its current strategy of promoting higher underlying inflation and to convey a clear commitment to limiting price increases, according to a speech he delivered to business leaders in Sapporo.

Takata was the lone dissenter to the Bank of Japan's decision in July to maintain short-term interest rates at 1 percent, advocating for a rise to 1.25 percent in response to inflationary risks stemming from external demand shocks.