Another member said the BOJ should ​raise rates at intervals of a few months, adding that timely rate hikes were the only monetary policy prescription to curb unwelcome yen ​weakness that pushes up import costs, the minutes showed. The remarks underscore the ​BOJ's resolve to proceed with monetary tightening, with many in the board voicing confidence that higher US tariffs and past rate hikes ​have yet to become a major drag on the economy. Having just raised rates in December, the BOJ kept its policy rate steady at 0.75% in January but retained its hawkish inflation forecasts. Many members said underlying inflation, or price moves reflecting domestic demand that the BOJ considers key to its rate-hike timing, was approaching the central bank's 2% target, the minutes showed. Several also proposed enhancing communication on how the BOJ perceives underlying inflation and Japan's neutral rate of interest, ⁠the minutes ​showed.

Source: The Edge Markets March 25, 2026 09:31 UTC