According to CoinMeta, Makoto Asada, a member of the Bank of Japan's Policy Board, stated that the central bank needs to remain cautious and closely monitor the impact of interest rate hikes on the economy, as rising rates may have the opposite effect of suppressing price trends. During a speech to local representatives in Nagasaki Prefecture in southwestern Japan, he said, "I believe that recent price increases are not necessarily driven by demand factors. Therefore, it is necessary for the Bank of Japan to fully consider the pace of interest rate hikes when proceeding with policy rate increases." At the September monetary policy meeting, Asada was one of two members who voted against the hike. Although his personal views may not change the Bank of Japan's established policy of continuing to raise benchmark interest rates, his remarks indicate that if the Bank of Japan does indeed raise rates again in the near future as the market generally expects, there may be another divergence of opinions within the decision-making body.