At its 29–30 October monetary policy meeting, the Bank of Japan had members express the view that the next rate hike should be implemented when conditions allow. Meanwhile, with inflation reaching 2%, the policy rate was left unchanged at around 1.25%.
The Bank of Japan published the main views expressed at its 29–30 October monetary policy meeting, including that some members believed rate hikes should be implemented when conditions allow. This reflected a view that the timing of the next rate hike should not be approached with excessive caution. The stance is seen as leaving room for judgment depending on price trends and economic conditions.
Against this backdrop, some members were reportedly of the view that the policy rate should be moved quickly toward the long-term neutral interest rate as inflation reaches 2%. At the meeting, the BOJ indicated that rising prices were broadly consistent with its target level.
Following the meeting, the policy rate was left unchanged at around 1.25%. The next policy response is expected to be determined based on future conditions while the BOJ assesses price and economic trends.