The Bank of Japan released the minutes of its July meeting, which showed a succession of views that placed importance on upside risks to prices and called for the pace of rate hikes to be accelerated.
The minutes of the Bank of Japan's July meeting, released on the 28th, recorded a succession of views that placed importance on the risk of a substantial rise in prices. These views called for the pace of rate hikes to be accelerated.
At the same time, the Bank of Japan decided at the meeting to leave its policy rate unchanged, and the minutes indicate that views were divided over the timing and pace of rate hikes.
This article organizes the key points in the minutes, including the emphasis on price risks and calls for an acceleration in the pace of rate hikes, in line with the facts stated in the article. It does not make any inferences or additions beyond the timing and figures given in the article.