BOJ September Summary Reveals Split on Rate-Hike Pace
Bank of Japan September summary shows several members favored nimble action against inflation overshoot, while one said there is no need to rush.
The Bank of Japan's September meeting summary highlighted a range of views on how quickly policy should be tightened. One member said the BOJ must act nimbly and show determination to prevent an inflation overshoot while staying mindful of the foreign exchange market.
Other participants leaned more hawkish: one said rate hikes should accelerate if signs of an overshoot emerge, and another argued for raising rates early to the terminal level to respond nimbly to unexpected changes.
At least one member pushed back, saying there is "no need to rush." The summary reflects continued debate within the board over the appropriate pace of normalization.
Source: First Squawk