The Bank of Japan released the minutes of its July Monetary Policy Meeting. Some members concerned about inflation risks called for flexible policy-rate adjustments, while others argued that the pace of rate hikes should be accelerated.
According to the minutes of the Bank of Japan’s July meeting, some policy board members concerned about the risk of rising prices said that “it is important to adjust the policy rate flexibly” and expressed the view that rate hikes should continue. Some members also argued that the pace of rate hikes needed to be increased.
At the meeting, the Bank decided to maintain the policy rate at around 1.0%. It was reported that the Bank decided to raise the rate to around 1.25% at its next meeting, scheduled for 17–18 September.