BOJ Policymakers Call for Faster Rate Hikes Amid Inflation Concerns
The Bank of Japan's (BOJ) rate hike in September was expected by many, but a policymaker called for accelerating the pace of rate hikes if signs emerge of inflation quickening significantly. This view was shared by others at the policy meeting on September 17-18.
The BOJ raised its policy rate to a 31-year high of 1.25 percent in September, breaking its cycle of hikes roughly every six months since ending its negative interest rate policy in March 2024.
Two of the nine Policy Board members dissented from the decision, while others called for giving consideration to the impact stemming from foreign exchange and demonstrating determination to prevent upward deviations in prices through a 'nimble response' to overseas economic environments and price developments.