Policymaker Urged BOJ to Consider Raising Rates Further

   Tokyo, May 2 (Jiji Press)--A Bank of Japan policymaker called on the central bank to consider raising interest rates further at a meeting in March, when it raised rates for the first time in 17 years, according to the minutes of the meeting released Thursday.
   The BOJ board member expressed the view that "it was appropriate to proceed deliberately but steadily with monetary policy normalization in response to developments in economic activity and prices," according to the minutes of the March 18-19 meeting.
   At the meeting, the BOJ board voted to end the central bank's negative interest rate policy after many members shared the assessment that the likelihood of achieving its 2 pct inflation target has risen further, the minutes showed.
   The minutes showed that many board members "shared the recognition that it was appropriate for the bank to consider changing the monetary policy framework, as its large-scale monetary easing measures...had likely fulfilled their roles."
   One board member said it was "appropriate that the bank reach the starting line of monetary policy normalization at this meeting," according to the minutes.

(2024/05/02-14:57)

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