A dovish board member of the Bank of Japan warns against hasty interest rate hikes due to weak consumer spending and difficulties small firms face in sustaining wage increases. This cautious stance adds to uncertainty about a potential rate hike this month.
The Bank of Japan must proceed cautiously in raising interest rates due to weak consumption and potential struggles for small businesses in maintaining wage increases, according to a dovish board member. This cautious approach highlights uncertainty over a possible rate hike this month.
Toyoaki Nakamura, who opposed the July rate hike, emphasized the risk of inflation falling short of the central bank's 2% target and the challenge of sustaining wage growth amid rising living costs and slowing global growth
Bank Of Japan Interest Rates Economic Challenges Wage Growth Consumer Spending Rate Hike Uncertainty
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