The minutes of the Bank of Japan's June meeting, released by the central bank, showed that several Policy Board members said financial conditions remained accommodative even after the rate hike and expressed the view that further increases should be pursued. Members also shared the view that higher oil prices resulting from a deterioration in the situation in the Middle East would increase the risk of rising prices.
According to the minutes of the Bank of Japan's June monetary policy meeting, released by the central bank on the 5th, several Policy Board members assessed financial conditions as remaining accommodative even after the rate hike and expressed the view that interest rates should continue to be raised. The minutes showed that support for further increases in the policy rate had emerged as a view held by multiple members.
The minutes reportedly said that many members shared the view that higher oil prices resulting from a deterioration in the situation in the Middle East would increase the risk of rising prices. This was cited as a factor heightening vigilance over price trends.
At the same time, the minutes suggested that some members may have maintained a cautious stance on the timing and extent of future policy changes, taking into account current financial conditions and economic developments.