The Bank of Japan released the main opinions from its July monetary policy meeting. One committee member said a flexible response was needed on the pace of rate hikes, without being tied to a fixed schedule. Several members said adjustments to monetary easing should be accelerated to reduce the risks of waiting, amid concern over upside risks to prices.
The Bank of Japan released the main opinions from its monetary policy meeting held on 30 and 31 July. One of its policy board members said that, regarding further increases in the policy rate, “the Bank has entered a new phase in which it needs to discuss a flexible response and the size of rate hikes, without being tied to a fixed pace.”
Several members also expressed the view that, amid concern over upside risks to prices, “it cannot be said that the risks of waiting are small, and it is necessary to accelerate adjustments to the degree of monetary easing.” Attention will focus on discussions about the future conduct of monetary policy.