BOJ SUMMARY SHOWS ONE MEMBER SAID NEXT YEAR’S ANNUAL WAGE NEGOTIATIONS WARRANT ATTENTION, BUT THAT IT IS UNLIKELY WAGE GROWTH WILL RISE SIGNIFICANTLY RELATIVE TO THIS YEAR AND THE RISK OF SECOND-ROUND EFFECTS EMERGING IS NOT HIGH
BOJ SUMMARY SHOWS ONE MEMBER SAID THE NEXT RATE HIKE IS UNLIKELY TO HAVE A SIGNIFICANT NEGATIVE IMPACT ON THE ECONOMY ON A NET BASIS, THAT JAPAN’S NEUTRAL RATE IS LIKELY CONSIDERABLY ABOVE 1%, AND THAT THE BANK MUST OBSERVE FINANCIAL CONDITIONS FOR SEVERAL MONTHS AFTER EACH RATE INCREASE
BOJ SUMMARY SHOWS ONE MEMBER SAID THE BANK SHOULD RAISE RATES WHEN FEASIBLE WITHOUT EXCESSIVE CAUTION, AND THAT IT IS APPROPRIATE TO CONTINUE RAISING RATES AS UNDERLYING INFLATION NEARS PRICE TARGET LEVELS, THOUGH ANOTHER NOTED SOME ECONOMIC WEAKNESS AND URGED CAREFUL MONITORING, AND ONE SAID MAINTAINING POLICY IS SUITABLE TO ASSESS RISKS A BIT MORE
BOJ OCTOBER MEETING SUMMARY OF OPINIONS SHOWS ONE MEMBER SAID UNDERLYING INFLATION HAS HIT 2% AND THE BOJ MUST RAISE THE POLICY RATE TO A NEUTRAL LEVEL SOON, WITH ANOTHER SAYING JAPAN IS ENTERING A NEW PHASE REQUIRING FASTER RATE HIKES TOWARD NEUTRAL LEVELS AND THAT THE BANK MUST MOVE THE RATE TO NEUTRAL EARLY FOR A FLEXIBLE RESPONSE IN HIKES AND CUTS