At an interview with Kyodo News, BOJ policymaker Sato Ayano (佐藤綾野) said she supported continuing to raise interest rates, but avoided specifying the timing of the next hike and expressed concern about weak private consumption.
At an interview with Kyodo News, BOJ policymaker Sato Ayano (佐藤綾野) said she supported the policy of adjusting the policy rate gradually, indicating her position in favor of continued rate hikes. She avoided specifying the timing.
Unlike the other policy board members who opposed the direction toward monetary easing and expansionary fiscal policy at the September Monetary Policy Meeting, she is seen as likely to influence market views on future rate hikes. As concerns about yen depreciation and developments in the Japan-US interest rate differential draw attention, her comments acknowledged the need to raise interest rates.
Sato is said to have been appointed by the Takaichi administration, which holds cautious views on rate hikes, and emphasized that rate hikes would contribute to sustainable economic growth. She indicated that she would make independent judgments on monetary policy.
Sato explained that she opposed a rate hike at the September meeting because private consumption was not particularly strong.