The BOJ's policy board members expressed support for a rate hike at the 29–30 October Monetary Policy Meeting, saying it would be better to implement one “when possible.” Some also pointed to the need to move toward the neutral interest rate sooner, given expectations that inflation will reach 2%.
According to the main views from the BOJ's October meeting, some participants said the next rate hike should be implemented when possible, without excessive caution.
Others argued that the Bank should move toward the neutral interest rate sooner once inflation reaches 2%.
The views expressed at the meeting could serve as a basis for future monetary policy decisions.