In the minutes of its July meeting released by the Bank of Japan, several members called for rate hikes, stressing the importance of adjusting the policy rate “flexibly” with inflation risks in mind.
The Bank of Japan released the minutes of its July Monetary Policy Meeting on the 28th. Although no final decision was reached, several members expressed the view that rate hikes should proceed.
Against a backdrop of concern about inflation risks, the members' comments emphasised the need to adjust the level of monetary policy rates flexibly in response to conditions.
The minutes are seen as reflecting the debate over whether rate hikes should proceed “flexibly” while keeping current inflationary pressures in view.