BOJ Minutes Show 2 Members Pushed Faster Hikes After 1.0% Rate Move

1 articles · Updated · investinglive.com · Aug 5

June 15-16 BOJ minutes showed two board members wanted quicker rate increases even after the bank raised its policy rate 0.25 point to about 1.0%, a 31-year high.
Several members warned inflation could strengthen in the second half of the fiscal year as firms widen price hikes, while most said high oil costs were already passing through rapidly into business prices.
One member said price pressure could persist even if the Middle East conflict eases, citing elevated shipping and storage costs from alternative sourcing as a more structural inflation risk.
The board also voted 7-1 to keep its JGB purchase taper through January-March 2027 and then hold monthly buying at about 2 trillion yen, with Naoki Tamura dissenting in favor of longer reductions.
Those June debates help explain July's steadier meeting tone, when the BOJ held rates but shifted discussion toward upside price risks, keeping September in play for another hike.