Bank of Japan (BOJ) board member Toichiro Asada has urged caution on the pace of interest-rate hikes, warning that higher rates could negatively impact the economy. Speaking in Nagasaki on Thursday, Asada emphasized the need to monitor the effects of rate increases carefully.
Asada noted that recent price increases have not been primarily driven by demand factors. He argued that the BOJ should carefully consider the timing and speed of any policy rate adjustments to avoid unintended economic consequences.