BOJ Officials See Faster Rate Hikes Looming on Inflation Concerns

The Bank of Japan's internal views suggest a faster pace of benchmark rate hikes than markets expect.

According to the BOJ, some officials see scope for raising interest rates sooner than expected, with one member stating that upside inflation risks deserve more attention than before due to core consumer price inflation nearing 2%.

The BOJ kept its benchmark rate unchanged at 1%, but signaled a potential additional increase as early as September after examining the impact of yen weakness on prices and the economy.