BOJ's Sato signals support for future rate hikes, Kyodo reports

TOKYO, October 7 - Bank of Japan board member Ayano Sato expressed her support for potential future interest rate increases, Kyodo news reported on Wednesday. Appointed by Prime Minister Sanae Takaichi, Sato was one of two dissenters to the BOJ's September decision to raise rates. In an interview with Kyodo, Sato explained her vote against the rate hike in September, stating that consumer spending lacked momentum and underlying inflation was not accelerating.

She advocated for a staged approach to interest rate adjustments, contingent on developments in consumer spending and income. Sato emphasized that there should be no fixed pace for future rate hikes, depending on the circumstances.