Takada: The possibility of significant or consecutive interest rate hikes cannot be ruled out

Member of the Policy Committee of the Bank of Japan, Takata, stated that he does not rule out the possibility of significant or consecutive interest rate hikes, and stated that the 25 basis point rate hike is not fixed. Takada's remarks caused fluctuations in the Japanese yen exchange rate, with the yen rising approximately 0.5% to 159.44 against the US dollar from 160.39. Aozora Bank's Chief Market Strategist stated that the market has responded to Takata's clear signals of consecutive interest rate hikes, with his statements being more aggressive in terms of the magnitude and pace of rate hikes than recent statements from the Governor and Deputy Governor of the Bank of Japan.