Many BOJ board members saw need to raise rates if Iran war prolongs energy shock, minutes show

TOKYO, May 7 (Reuters) – Many Bank of Japan board ​members saw ‌the need to raise interest rates if the Iran ‌war-driven ​energy ⁠shock is prolonged ⁠and gives rise to concerns over second-round effects on ​broader inflation, minutes of ⁠their March ⁠meeting showed ​on Thursday.

One member ​said the BOJ should ‌raise rates “without long intervals,” while another said the ⁠central bank would need to hike “without hesitation” ⁠if ‌the economy ⁠showed no signs ​of ‌deterioration from ​the Middle ⁠East conflict, the minutes showed.

(Reporting by Leika Kihara; Editing by Jacqueline ​Wong)