Financial Markets "Still Unstable": BOJ Policymaker

Akita, Sept. 11 (Jiji Press)--Japanese financial markets remain unstable after experiencing turbulence triggered by the Bank of Japan's decision on another interest rate hike in July, a BOJ policymaker said Wednesday.

"Extremely unstable conditions still continue," BOJ Policy Board member Junko Nakagawa told a press conference after delivering a lecture in the city of Akita, northeastern Japan.

Nakagawa refrained from predicting whether the central bank will raise interest rates further, saying any prejudgment cannot be made under such unstable circumstances. She thus favored the idea of assessing for the time being the impact of the volatile market swings.

But at the same time, she raised no objection to hawkish opinions expressed by BOJ Governor Kazuo Ueda and other members of the bank's leadership.

"The BOJ's basic stance of adjusting the degree of monetary easing will not change if the economy and prices move in line with forecast," Nakagawa said, adding that the economy and prices are currently "going well."

[Copyright The Jiji Press, Ltd.]