The BOJ published the Summary of Opinions from its September meeting, while a Cabinet Office representative called for a review of the cumulative impact of previous rate hikes. The yen weakened at times after the publication.
The BOJ published the Summary of Opinions from its Monetary Policy Meeting held on 17–18 September. Several Policy Board members expressed a positive stance toward additional rate hikes, while others voiced caution.
A Cabinet Office representative said that the BOJ needed to fulfill its accountability for the latest decision and review the cumulative impact of previous rate hikes. The representative also suggested that the analysis should take into account the neutral interest rate estimated by the BOJ.
After the publication, the yen weakened in the foreign exchange market, at one point falling by more than ¥1. Market participants said the Cabinet Office's comments reinforced the view that the government was cautious about rate hikes.