Bank of Japan deputy governor Kazumasa Iwata said the central bank cannot say when it will switch to a credit tightening because it is currently monitoring various economic data and assessing both upside and downside risks. Markets expect the BoJ to conduct its first rate hike in six years in July or August, depending on economic data at the time. Iwata told a news conference in Akita City in northern Japan after meeting a local business community that global financial markets are a key risk factor in deciding a monetary policy change. To confirm upside risks as seen in some private-sector surveys, Iwata said: "I want to focus on corporate capital investment plans to be unveiled in the June Tankan." The BoJ will release the outcome of its quarterly business sentiment survey on July 3.