BoJ board saw the need to keep raising rates, September meeting minutes show
TOKYO: Bank of Japan (BoJ) policymakers saw the need to keep raising interest rates, with one signalling the chance of faster-paced increases, minutes of the central bank's September meeting showed on Thursday.
The Bank of Japan (BoJ) policymakers recognized the necessity of continuing to raise interest rates, as evidenced by the minutes of the central bank's September meeting. One member suggested that the BoJ might need to accelerate the pace of rate hikes if there were indications of an upward deviation in prices. Another member emphasized that while the BoJ should not act hastily, it should guide policy appropriately to prevent excessive and persistent price rises.
The BoJ's September meeting resulted in a key interest rate increase to a 31-year high of 1.25 per cent, with the bank signaling a shift towards a policy focused on preventing inflation from overshooting its two per cent target.
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