BOJ's Takata says not thinking of raising rates one after another

The Bank of Japan's (BOJ) board member Takako Masai said on Thursday that the central bank is not considering raising interest rates one after another as it seeks to achieve its 2% inflation target.

Masai's comments come as the BOJ continues to maintain its ultra-loose monetary policy to support the economy amid the COVID-19 pandemic. The central bank has kept its key interest rate at -0.1% and has conducted large-scale asset purchases to provide liquidity to the financial system.

The BOJ has faced challenges in achieving its inflation target, with consumer prices remaining stubbornly low. Masai's remarks suggest that the central bank is not planning to tighten monetary policy in the near future.

The BOJ's stance on interest rates will continue to be closely watched by market participants and policymakers as they assess the central bank's approach to achieving its inflation target.