Bank of Japan debated need for faster rate hikes, July minutes show
Several policymakers said the central bank should move faster as underlying inflation neared 2% and upside price risks intensified, the minutes showed.
- On Monday, the BOJ signaled a need to focus on mounting inflation risks, with some members calling for faster interest rate increases, according to minutes from their Jul meeting.
- After raising rates in Jun, the BOJ paused in Jul before pushing its policy rate to a 31-year high of 1.25% this month, as the Middle East war and weak yen lifted import prices.
- One member said the BOJ must "adjust its policy rate nimbly," while others scrutinized whether inflation expectations would stabilize around 2% for households and companies.
- Expectations of further rate hikes pushed the benchmark 10-year JGB yield to 3.115% on Friday, a level last seen in August 1996.
- Analysts expect the BOJ to hike again as soon as Oct, as the current 1.25% policy rate remains near the bottom of the estimated 1.1% to 2.5% neutral range.
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This article is from Cedarnews.net. To learn more about the latest news and information, visit our website. Bank of Japan Governor Kazuo Ueda (center) and others attending the Monetary Policy Meeting = July 31, Bank of Japan Headquarters, Chuo-ku, Tokyo (Representative photo) The Bank of Japan released the minutes of its Monetary Policy Meeting held on July 30 and 31 on the 28th. Cedarnews الإخباري. العاجلة والتقارير الحصرية، زوروا موقعنا الرسم…
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Bank of Japan debated need for faster rate hikes, July minutes show
TOKYO, Sept 28 : Many Bank of Japan policymakers saw the need to focus on mounting inflation risks, with some calling for faster interest rate increases, minutes of their July meeting showed, cementing the case for further hikes to still-low borrowing costs.After raising interest rates in June, the central ba
Several Bank of Japan members saw a need to focus on rising inflation risks, and some advocated faster interest rate hikes.
According to the minutes of the Bank of Japan's July Monetary Policy Meeting, released on the 28th, policy board members expressed concern about the risk of rising prices and stated that "it is important to adjust the policy interest rate flexibly," suggesting that interest rate hikes should be pursued. They also indicated the need to accelerate the pace of interest rate increases…
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