BOJ Should Hike Given Risk of Falling Behind, Top Academic Says

The Bank of Japan should raise its benchmark interest rate early, and it faces the risk it has already fallen behind the curve, according to a prominent economics professor who was an adviser to the prime minister.

“The BOJ had better move early while it can,” said Hiroshi Yoshikawa, professor emeritus at the University of Tokyo. In a sense, “they may already be behind the curve,” he said in an interview Monday.