BOJ must raise rates at ‘very moderate’ pace, says board member Adachi

TOKYO (Reuters) – Bank of Japan board member Seiji Adachi said on Wednesday the central bank must raise interest rates at a “very moderate” pace and avoid hiking prematurely, given uncertainties over the global economic outlook and domestic wage developments.

“Given high uncertainty surrounding global developments, there is significant uncertainty over next year’s wage developments in Japan. We must carefully monitor the situation,” Adachi said in a speech.

(Reporting by Leika Kihara; Editing by Tom Hogue)