Japan's new economy minister, Ryosei Akazawa, said on Friday that the timing of changes in the Bank of Japan's monetary policy should be aligned with the government's broader goal of exiting deflation.

The Bank of Japan should weigh any additional interest-rate increases carefully in order to avoid the risk of cooling the economy too much, the country’s new economics minister said.

The Bank of Japan will keep seeking the best timing to raise interest rates again as economic conditions continue to improve, according to former BOJ board member Takako Masai.