BoJ to consider raising interest rates in September – Jiji Press
According to the Jiji Press, the Bank of Japan (BoJ) may consider an additional interest rate increase at its next policy meeting on September 17-18, after leaving them unchanged in July, to counter upside inflation risks.
The Bank of Japan (BoJ) might consider raising interest rates in September, as per Jiji Press. The bank left rates unchanged in July, aiming to tackle potential upward inflation risks. Japan's prices could continue to rise because of the growing demand for artificial intelligence and a weakening yen, along with higher crude oil prices, which have pushed inflation above the BoJ's 2% target.
The BoJ, Japan's central bank, was previously engaged in an extremely loose monetary policy to spur the economy and stimulate inflation. However, the bank recently lifted rates, moving away from its ultra-loose stance. The Yen's depreciation and the spike in global energy prices have contributed to rising inflation in Japan.
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