In a speech to business leaders, Naoki Tamura said that the central bank should raise rates to 1% or higher in the fiscal half starting in October.

The need for further interest rate hikes was discussed at the most recent Bank of Japan monetary policy meeting, with a board member

Japan’s real rates clearly remain in negative territory even with last week’s interest rate hike, and the Bank of Japan will keep raising rates if its economic outlook is realized, according to Deputy Governor Ryozo Himino.

The Bank of Japan will continue to raise interest rates if underlying inflation accelerates toward its 2% target as projected, a senior central bank official said on Wednesday. "Underlying inflation is heading toward 2% but still remains below that level now.