BOJ Debates Faster Rate Hikes Amid Inflation Pressures

The Bank of Japan (BOJ) policymakers discussed further interest rate hikes at their September meeting, according to a summary of opinions.

Some members believed that the BOJ should accelerate the pace of rate increases or bring them closer to its target soon, citing inflationary pressure as a reason.

The central bank raised rates to 1.25%, a 31-year high, in September and signaled a new phase focused on keeping inflation from overshooting its target.

Underlying inflation had reached or was close to hitting the BOJ's 2% target, according to several opinions.