The BOJ released the main opinions from its October Monetary Policy Meeting, recognizing that underlying inflation had reached 2%. Some members argued that rate hikes should be brought forward, citing next spring's shunto and wage trends as factors for future decisions.
The BOJ released the main opinions from its Monetary Policy Meeting held on 29 and 30 October. The meeting indicated that the underlying rate of inflation had reached 2%, and some called for an early move to bring the policy rate to a neutral level.
Some members repeatedly expressed the view that rate hikes should be expedited, while others pointed to the importance of establishing an underlying inflation rate of 2% going forward. There was also an opinion that wage trends should be monitored closely, and a view that next year's shunto would be an important turning point.
Some also expressed the view that year-on-year consumer price growth would rise above 3% toward the end of the fiscal year. These forecasts are attracting market attention as the direction of monetary policy and wage trends evolve.
The information was provided by Jiji Press, which reported content similar to the BOJ's official announcement.