BOJ board member Takata keeps call for more rate hikes

By Leika Kihara

TOKYO (Reuters) -Bank of Japan board member Hajime Takata said on Monday the economy is weathering the hit from U.S. tariffs and has likely already met its 2% inflation target, reiterating his call for resuming interest rate hikes.

The BOJ’s “tankan” business survey in October and findings from the bank’s branch managers suggest improvements in job and income conditions are underpinning consumption, Takata said in a speech.

With companies steadily raising prices and wages, Japan has already roughly achieved the BOJ’s 2% inflation target and now risks prices overshooting expectations, he said.

“I believe that now is a prime opportunity to raise interest rates,” he said, explaining his call for a rate hike at the September meeting.

Takata was among two members of the boa