BOJ Policymakers Debate Faster Rate Hikes Amid Government Caution

The Bank of Japan (BOJ) policymakers debated faster rate hikes in September, but the government urged caution.

A summary of opinions at its September meeting showed that some BOJ members saw a need to accelerate interest rate rises or bring them closer to the central bank's 'goal' soon.

This has heightened the chance of more rate hikes, with the BOJ raising rates to 1.25% in September, a 31-year high.

However, investors sold the yen on receding bets for a back-to-back rate hike this month, as the summary showed a government representative urging the central bank to tread cautiously in further rate hikes.