BOJ Policymaker Calls for Flexible Rate Hikes Amid Inflation Concerns

Bank of Japan policymaker Hajime Takata has called for 'nimble' interest rate hikes, signaling a shift in monetary policy approach. Speaking at a speech in Sapporo on Wednesday, Takata stated that the BOJ has entered a new phase this year where rate hikes will not be conducted at a fixed pace but instead will be carried out in a more flexible manner.

The move is seen as a response to the country's inflation target of 2% having 'almost been achieved', according to Takata. The policymaker emphasized the need for the BOJ to demonstrate its determination to prevent upward deviations in prices, particularly those driven by a weak yen and import costs.