BoJ Board Member Asada says consumer spending is not strong enough to drive the economy

Says: Responded must be mindful of risk rate hikes could lower underlying inflation as consumption slows, when asked about a possible December rate hike. Central bank independence is an important framework for achieving price stability, when asked whether BoJ rate hikes could impact government economic policy. No specific terminal rate level in mind. Japan's nominal neutral rate is likely at the lower end of the BoJ staff's estimated range. The terminal rate and neutral rate are closely intertwined. BoJ does not directly control FX and therefore will not comment on a desirable level for Dollar-Yen. Even if the BoJ's policy rate reaches a level consistent with its policy target, the BoJ could still raise or lower rates beyond that. Want to make policy decisions at each meeting by examining upside and downside risks alongside financial conditions. Japan is now in inflation, not deflation, so it has entered a new phase.