The Bank of Japan’s most hawkish board member Naoki Tamura flagged the need for two or more interest rate hikes by early next year to contain upside risks for prices.Most Read from BloombergCitadel to

The Bank of Japan must raise short-term interest rates to at least 1% by the second half of fiscal 2025 to contain inflation risks, board member Naoki Tamura said on Thursday.

A speech by the board member is likely to further fuel market speculation that more rate hikes are in the pipeline.

Bank of Japan (BoJ) board member Naoki Tamura is back on the wires, via Reuters, clarifying his earlier remarks on the central bank’s interest rate. Not saying that neutral rate should be 1%. Difficult to specify terminal rate at this point.

The Bank of Japan must raise interest rates to at least 1% by the second half of the fiscal year beginning in April, hawkish board member Naoki Tamura said on Thursday, remarks that pushed up the yen as they reinforcing bets of a near-term rate hike.