BOJ debated need for timely rate hike at June meeting, summary shows

FILE PHOTO: The Japanese national flag waves at the Bank of Japan building in Tokyo, Japan March 18, 2024. REUTERS/Kim Kyung-Hoon/File PhotoTOKYO: The Bank of Japan debated in June the chance of a near-term interest rate hike with one policymaker calling for an increase without delay to address risks of inflation overshooting expectations, a meeting summary showed on Monday .

"The BOJ must continue to closely monitor data leading up to the next policy meeting" in July, as upside risks to prices have become"more noticeable," said another opinion."If deemed appropriate, the BOJ should raise its policy rate without too much delay." At the June meeting, the BOJ kept short-term rates intact at a range of 0-0.1 per cent but decided to announce a detailed plan next month on reducing its US$5 trillion balance sheet in a sign it was moving steadily towards normalising monetary policy.

Japan's core inflation hit 2.5 per cent in May, accelerating from the previous month's 2.2 per cent due largely to higher energy levies.

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Economists remain split on timing of BOJ's next rate hike: Reuters pollTOKYO : Economists remain split over the timing of the Bank of Japan's next interest rate hike, according to a new Reuters poll, after the central bank's decision to announce a quantitative tightening plan next month.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

BOJ may raise rates in July depending on data, says Governor UedaTOKYO : Bank of Japan Governor Kazuo Ueda said on Tuesday the central bank could raise interest rates next month, depending on economic and price data available at the time."Our decision on bond-buying taper and interest rate hikes are two different things," Ueda told parliament.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »