The summary of opinions from the Bank of Japan meeting suggests the possibility of a rate hike in December

The latest summary of opinions from the Bank of Japan's policy meeting indicates that the next interest rate hike could be implemented as early as December, which aligns with the expectations of many market participants. At the two-day policy meeting that ended on October 30, the Bank of Japan's committee decided to maintain the current interest rate with a vote of 7 to 2.

The meeting minutes show that one committee member pointed out that "the conditions for further normalizing the policy interest rate are likely to be fundamentally in place," while emphasizing the need to examine potential inflation trends. These minutes suggest that the nine-member committee of the Bank of Japan is increasingly inclined to believe that the timing for the next interest rate hike is approaching, consistent with Governor Ueda's recent statements about "potential actions in the coming months."

As almost all market observers expect the bank to raise borrowing costs by January at the latest, attention has shifted to whether the timing of the rate hike will fall on December 19 or in January of the following year. (Jin Shi)