[Bank of Japan Policy Board Member Kazuo Ueda Calls for Early Rate Hike] According to a report by Jinse Finance on May 14, Bank of Japan Policy Board member Kazuo Ueda urged that interest rates should be raised as soon as possible if there are no signs of the economy falling into distress. He pointed out that inflation risks are showing more persistent characteristics due to the conflict in Iran. "If statistical data does not show clear signs of economic downturn, I believe it would be appropriate to raise interest rates early," Ueda said. He noted that while the rise in fuel prices caused by the Middle East conflict might be temporary, there is also a risk that it could accelerate Japan's "already steadily increasing" logistics costs. "There is concern that these factors may not be temporary shocks but rather represent a more persistent trend, posing a risk of driving up prices," Ueda said. (Jin10)