Bank of Japan Policy Board member Asada Toichiro (浅田統一郎) spoke in Nagasaki, taking a cautious stance and saying that sufficient attention must be paid to the pace of future rate hikes. Asada Toichiro (浅田統一郎) also referred to the risk that rate hikes could cool the economy and push down the inflation rate.
Bank of Japan Policy Board member Asada Toichiro (浅田統一郎) spoke in Nagasaki and expressed a cautious stance on future rate hikes, saying that “sufficient attention must be paid to the pace.” At the speech, Asada Toichiro (浅田統一郎) also referred to the possibility that rate hikes could cool the economy and the risk that they could push down the inflation rate.
Asada Toichiro (浅田統一郎) has held positions including professor at Chuo University and was appointed a Bank of Japan Policy Board member in April. The remarks came against the backdrop of Asada Toichiro (浅田統一郎) being regarded as a reflationist, amid views premised on a combination of monetary easing and fiscal policy.
At the speech, Asada Toichiro (浅田統一郎) said that he did not consider personal consumption to be “weak to that extent,” while expressing the view that it was not strong enough to drive the economy as a whole. Asada Toichiro (浅田統一郎) voiced concern that continued rate hikes could become a factor weighing on the economy.