The Bank of Japan released the minutes of its 30–31 July monetary policy meeting. Some members pointed out that the pace of rate hikes could accelerate more quickly than the market expects. Another member expressed the view that it would be desirable to adjust the degree of monetary accommodation gradually in line with economic conditions, while some also pointed out that rates below the lower end of the estimated range needed to be raised.
The Bank of Japan released the minutes of its 30–31 July monetary policy meeting.
One member pointed out that, depending on economic, price and financial conditions, the pace of rate hikes could accelerate more quickly than the market expects.
Another member expressed the view that gradually adjusting the degree of monetary accommodation in line with economic, price and financial conditions would ultimately be desirable for all economic agents.
One member pointed out that it was necessary to raise the policy rate from below the lower end of the broadly indicated estimated range, put monetary policy normalization on a clearer path, and secure flexibility in policy decisions.