BOJ summary flags upside price risks, possible faster hike pace
At its July meeting, the BOJ held its policy rate at 1% and signaled it could possibly raise it in September, saying it's watching the weak yen's impact on prices and growth.
The Bank of Japan has highlighted growing concerns about upside inflation risks in a summary of opinions from its July meeting, with one board member suggesting that interest rate hikes may accelerate faster than anticipated by markets. The member noted that despite underlying CPI inflation nearing 2%, greater attention should be given to potential upward price pressures.
Another member urged the central bank to show resolve in preventing any deviation in inflation, possibly through more substantial rate increases, as global policymakers embark on their own hiking cycles.
Written by urgent.news from Japan Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
