BOJ should keep raising rates at a moderate pace, adviser says

The Bank of Japan should continue raising interest rates at a moderate pace, according to Toshihiro Nagahama, a private-sector member of Japan’s Council on Economic and Fiscal Policy. Nagahama said moderate BOJ rate hikes are crucial to correcting what he described as the yen’s excessive depreciation. He added that, in his personal view, a rate increase in June would be appropriate because delaying a hike would lead to further yen weakness and damage households.