BoJ Summary of Opinions noted that a member said it is appropriate to continue raising rates as underlying inflation nears the price target, while a member said maintaining policy is suitable to assess risks around the economy and prices a little more
Newsquawk Staff ·
Says
- Member said there is some weakness in the economy, so the economic and price outlook must be carefully monitored.
- Member said it is appropriate to continue raising rates as underlying inflation converges towards levels consistent with the price target.
- Member said the BoJ should decide to raise rates when possible without becoming too cautious.
- Member said Japan is entering a new phase in which the BoJ needs to accelerate the pace of rate hikes towards levels deemed neutral for the economy.
- Member said underlying inflation has already reached 2%, and the BoJ needs to bring the policy rate to a neutral level soon.
- Member said the BoJ must monitor financial conditions over a period of a few months after each rate hike when adjusting the degree of monetary accommodation.
- Member said the BoJ must bring the policy rate to neutral at an early stage so it can respond flexibly when raising or lowering rates.
- Member said attention must be paid to the risk that future rate hikes could weigh on the economy and push down inflation.
- Member said Japan's neutral rate is likely to be significantly above 1%.
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