'BoJ to raise rates if economy grows steadily'

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TOKYO, Dec 3 (AFP): Japan's central bank will continue to raise its super-low interest rates if Asia's largest economy enjoys sustainable growth, even with steady consumer prices, governor Toshihiko Fukui said today.
Japan's benchmark interest rate of 0.5 per cent is by far the lowest among the major economies, and Fukui warned that low borrowing costs risk creating a boom-bust cycle that could threaten long-term growth.
"Japanese financial conditions have been extremely accommodative, and if Japan's economy is to follow a path of sustainable growth under price stability, the level of interest rates is to be raised," Fukui said.