BoJ's Himino Pushes for Rate Hikes Amid Concerns Over Weak Yen

Bank of Japan Deputy Governor Ryozo Himino emphasized the need for persisting in raising policy rates and adjusting monetary support based on economic, price, and financial trends.

Himino noted that the risk of a severe economic downturn has diminished but expressed concerns about the weak yen's impact on household real income and global firms' profits.

The central bank must be mindful of the effects of currency moves on inflation expectations and underlying inflation, which should be stabilized around 2%, Himino stated.

He also warned that a delay in rate hikes could lead to sharp inflation, requiring rapid rate increases thereafter.