BoJ Summary of Opinions from March meeting stated that a member said it is appropriate to continue raising interest rates if the economic and price forecasts materialise

Says:

• Conditions remain accommodative even after rate hikes.
• Member said the BoJ can keep rates steady for now due to Middle East uncertainty.
• Need to monitor Middle East developments and wages for rate decisions.
• Member said future rate hike timing depends on Middle East impact, as well as wages, inflation and financial conditions.
• Member said wage and price developments should be closely scrutinised from the next meeting onward.
• Member said the BoJ is expected to adjust the degree of monetary support without long intervals.
• Member said the BoJ should raise rates without hesitation if there is no significant economic deterioration, citing the pricing behaviour of small and midsized firms.
• BoJ debated the need for more rate hikes at the March meeting and some members signalled the need to accelerate rate hikes.