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Reuters
BOJ must eye rate hike, shift to more flexible policy, says ex-deputy governor
The Bank of Japan (BOJ) must make its monetary policy framework more flexible and stand ready to raise its long-term interest rate target next year if the economy can withstand overseas risks, former deputy governor Hirohide Yamaguchi told Reuters. Yamaguchi, who is considered a candidate to become next BOJ governor, said Japan is already seeing signs of “home-made” inflation, in which broadening price hikes heighten public perceptions that inflation will keep rising longer-term. Wages are also likely to rise ahead on robust corporate profits, which could keep inflation above the BOJ’s 2% target well into next year, he said in an interview on Friday.
