BOJ summary suggests good chance of December interest rate hike
The Bank of Japan's brief record of the latest policy meeting indicated many board members see a near-term interest rate hike as necessary.
The Bank of Japan's summary of its recent policy meeting suggests there is a strong possibility of raising interest rates in December. Nine members of the nine-member board indicated during the Oct. 29-30 meeting that a rate hike is necessary for the near term. As reported by the Oct. 31 summary released on Tuesday, one board member stated, "The Bank should decide on the next policy interest rate hike when it is possible without becoming overly cautious."
Following a period of rising prices, the central bank has accelerated the pace of rate increases, with current expectations indicating a quarterly increase in borrowing costs. The consensus among the board members now appears more confident in a December rate hike.
Written by urgent.news from Japan Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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