The slowdown in the U.S. housing market could negatively impact growth in Japan, a Bank of Japan board member said Thursday. The comments made by Bank of Japan Deputy Gov. Kazumasa Iwata were not expected to have a major effect on markets which had largely discounted any likelihood the BOJ would hike interest rates this year, according to a report by Dow Jones Newswires. Iwata comments were seen as backing the view that the BOJ should raise interest rates gradually while watching global credit markets for any fallout from the U.S. subprime credit crisis. "If the slowdown of the U.S. economy continues and the Euro-zone economy also slows, it would create downside risks for the future economic growth rate in Japan," Iwata was reported as saying in a speech to business leaders in the southern Japanese city of Shimonoseki. Iwata voted along with seven of the BOJ's nine policy members against lifting interest rates at its monthly policy meeting in September. Iwata is seen as one the least inclined among the BOJ's policy board to hike interest rate. He voted against lifting the uncollateralized overnight call rate to 0.5% from 0.25% in February, the only board member to vote against the move. A lot of if´s....