BOJ Prepares for Rate Hike Signals Ahead of September Meeting

The Bank of Japan has scheduled another speaking event for one of its board members ahead of its next policy meeting in September. Board member Kazuyuki Masu will deliver a speech and hold a news conference on September 10, according to the BOJ.

This comes as two other similar events featuring hawkish board members have already been scheduled: Hajime Takata on September 2 and Deputy Governor Ryozo Himino on August 27. These events are seen as an attempt by the BOJ to repeat a past practice of giving advance signals of a rate hike in speeches delivered before rate increases.

Takata, who dissented on the BOJ's decision in July to keep rates steady, has called for a hike to 1.25%. Masu and Himino are seen as among hawks in the nine-member board who favour a near-term rate hike.