The Bank of Japan released the minutes of its July policy meeting. While the meeting decided to keep the policy rate unchanged, members repeatedly expressed support for accelerating the pace of rate hikes.
The Bank of Japan released the minutes of its July policy meeting. The meeting was held from 30 to 31 July, and the decision to keep the policy rate unchanged was approved by a majority vote. The minutes record the discussion concerning the future direction of monetary policy.
At this meeting, the decision to keep rates unchanged was central because the policy rate had only recently been raised to 1% in June. At the same time, the minutes indicate that several members expressed support for accelerating the pace of rate hikes.