Bank of Japan is reportedly inclined against a consecutive interest rate hike in October.
58 minutes ago
Sources familiar with the matter said Bank of Japan (BOJ) officials are leaning against implementing a rare consecutive interest rate hike this month, while leaving open the possibility of a rate hike as early as December. With no signs of a sudden rise in upside inflation risks, BOJ officials see no need for consecutive rate hikes. The central bank will closely review economic data to assess whether to launch a new round of rate hikes at its December meeting. Sources added that the final policy decision at the October 30 meeting remained subject to change until the last minute. To curb upside inflation risks, the policy board led by BOJ Governor Kazuo Ueda raised interest rates to 1.25% last month. U.S. Treasury Secretary Scott Bessent had previously pressured Japan to continue policy normalization to support the yen’s strength.
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