URGENT: BOJ far from rate hikes, 2% inflation not foreseen: deputy chief

The Bank of Japan is far from raising interest rates as 2 percent stable inflation is not in sight, Deputy Governor Shinichi Uchida said, warning that premature monetary tightening will raise the risk of missing the price target.

In a recent interview with Kyodo News, Uchida said monetary easing is necessary to support the economy and further wage growth amid emerging signs of change in corporate price-setting behavior rooted in the era of deflation.

The BOJ’s dovish stance has been a major factor behind the yen’s depreciation, particularly against the U.S. dollar. Uchida said the yen’s “rapid...