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.Tamura, a former commercial banker known as among the most hawkish members of the board,

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

In a speech to business leaders, Naoki Tamura said that the central bank should raise rates to 1% or higher in the fiscal half starting in October.

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.