[Bank of Japan Dovish Member Urges Caution on Interest Rate Hikes] On November 12th, Jinshi Data reported that Bank of Japan (BOJ) policy board member Toichiro Asada stated that the central bank needs to remain cautious and closely monitor the impact of interest rate hikes on the economy, as rising interest rates may actually have a restraining effect on price trends. Speaking to representatives from various sectors in Nagasaki Prefecture in southwestern Japan on Thursday, Asada said, "I believe that the recent price increases are not necessarily driven by demand factors. Therefore, the BOJ needs to fully consider the pace of interest rate hikes when proceeding with policy rate increases." At the September policy meeting, Asada was one of the two members who voted against the rate hike. While his personal views may not change the BOJ's established policy of continuing to raise benchmark interest rates, his remarks indicate that if the BOJ raises interest rates again in the near future as widely expected by the market, disagreements may re-emerge within the policy-making body.