Hawkish BOJ policymaker calls for rates to rise to at least 1%

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OKAYAMA, Japan :The Bank of Japan must raise interest rates to at least 1 per cent by late next year, hawkish policymaker Naoki Tamura said on Thursday, reinforcing the bank's resolve to persist with steady monetary tightening.

It was the first time a BOJ policymaker publicly specified a level the central bank should eventually target in pushing up short-term borrowing costs.

Tamura's remarks follow a string of comments from BOJ board members calling for the bank to keep raising borrowing costs despite recent volatility in financial markets.

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Category: EconomyBusiness

Markets: SingaporeJapan

Topics: Must Cent Interest Economy Costs Tamura Bank Japan Raise Rates Inflation

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-12 @ 09:38:44 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 552 words

Reading Time: 4 minutes read

Sentences: 20 lines

Sentence Length: 28 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 22464938

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