BOJ Hawks Eye Faster Hikes as Inflation Risks Loom Large

The Bank of Japan's (BOJ) policymakers are shifting their focus from lifting inflation to stabilizing it around 2%, according to a summary of opinions from the September meeting.

Some members suggested that if prices show signs of deviating upward, the BOJ may need to accelerate hikes. One member wants the rate closer to its goal relatively soon.

The majority of opinions backed the recent hike, citing an economy largely on track and accommodative financial conditions. However, two members favored holding off on further hikes due to headline CPI being below 2% and a lack of a clearly strong economy.

Members also noted that underlying inflation is close to or at 2%, but upside price risks remain high, including from higher import prices and crude oil costs.