BOJ Board Member Adds to Signals Pointing to Interest Rate Hikes

A Bank of Japan board member highlighted the need for further increases to the benchmark interest rate in order to complete the process of normalizing policy settings, in a signal that’s likely to sustain emerging speculation over an early rate hike.

“I am convinced that continuing with further policy interest rate hikes will be needed to complete the normalization of monetary policy in Japan,” Kazuyuki Masu said Friday in a speech to local business leaders in Ehime, western Japan.