[Bank of Japan Official: Will Support Rate Hike Only After Seeing Demand-Driven Inflation] Jin10 News, July 8 – Bank of Japan (BOJ) Policy Board member Asada Takaichiro stated that he must see signs of demand-driven inflation before supporting a rate hike. However, he also noted that the transmission speed of rising costs is "relatively fast," suggesting he may vote in favor of a rate hike in the future. Asada made these remarks in his first interview since joining the Policy Board. He was appointed by dovish Prime Minister Sanae Takaichi. In June, the BOJ raised interest rates to a 31-year high of 1%, with Asada being the sole dissenter in the decision. He explained that his dissenting vote was due to uncertainties in the Middle East, which could impact output and employment. The key prerequisite for supporting future rate hikes is that Japan must have the conditions to sustainably achieve its 2% inflation target. "Additionally, I believe it is necessary to confirm that this target is achieved through endogenous economic forces such as wage growth and demand expansion," he said, adding that these forces are currently insufficient to justify a rate hike. However, Asada noted that future decisions will depend on the economic conditions at the time. Despite falling oil prices and easing consumer inflation, the effects of previous oil price increases are being transmitted at a "relatively fast speed" and could lead to a broad rise in the prices of various goods.