The Bank of Japan released the Summary of Opinions from its July meeting, where there were successive calls to accelerate the pace of rate hikes in light of upside risks to prices. The Bank of Japan is reported to be expected to raise its policy rate to 1.25% at its September meeting. This report is based on information available at the time of posting.
The Bank of Japan released the Summary of Opinions from its Monetary Policy Meeting held on 30 and 31 July. One Policy Board member pointed out that “the risks of waiting as in the past are not insignificant,” indicating the need to accelerate the pace of adjusting the degree of monetary accommodation.
It has been reported that there were successive calls at the meeting to accelerate the pace of rate hikes in light of upside risks to prices. Under Governor Kazuo Ueda (植田 和男), the Bank of Japan appears to have begun considering an additional rate hike.
The Bank of Japan is reportedly expected to raise its policy rate to 1.25% at its next meeting in September. Reports indicate that the possibility of additional rate hikes at short intervals was discussed during the latest exchange.