The Bank of Japan meeting minutes reinforce a hawkish stance on rate hikes; markets expect another rate increase before year-end.

金十2026/06/24 02:26

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```htmlGolden Ten Data reported on June 24 that the Bank of Japan signaled in the minutes of last week's board meeting that there is a need to further raise the benchmark interest rate. At last week's meeting, the Bank of Japan raised the policy interest rate to the highest level since 1995. According to the minutes released on Wednesday, a board member stated: "Given that the core CPI inflation rate has approached 2% and the financial environment is relatively loose, the central bank should continue to raise the policy interest rate in response to current economic, inflation, and financial conditions." Last week, the Bank of Japan implemented its first rate hike since December last year and clearly indicated that further hikes are expected in the future, though the minutes did not provide specific guidance on the timing of the next increase. Nevertheless, the minutes reinforced market expectations for another rate hike before the end of the year. The day after the meeting, a survey of economists showed that about 90% of respondents expect another rate hike before December, with more than one-third predicting the next adjustment window will be in October. Economists now expect the interest rate in this cycle to reach 1.75%, higher than the 1.5% forecast in a survey earlier this month.```

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