Bank of Japan Signals More Rate Hikes After Lifting Benchmark to Highest Since 1995
Updated
Updated · Bloomberg · Jun 24
Bank of Japan Signals More Rate Hikes After Lifting Benchmark to Highest Since 1995
3 articles · Updated · Bloomberg · Jun 24
Summary
A June 15-16 meeting summary showed at least one of the BOJ’s nine board members explicitly backing further rate increases after last week’s hike.
Underlying CPI inflation nearing 2% and still-accommodative financial conditions were cited as the main reasons to keep raising the policy interest rate.
The latest increase already took Japan’s benchmark rate to its highest level since 1995, underscoring the BOJ’s shift away from ultra-loose policy.
The summary signals policymakers remain focused on incoming data on the economy, prices and financial conditions as they weigh the pace of further tightening.