BoJ Summary of Opinions: Member says appropriate to keep raising rates in line with economy, price

The Bank of Japan (BoJ) published the Summary of Opinions from the September monetary policy meeting, with the key findings noted below.   

Key quotes

One member said appropriate to keep raising rates in line with economy, price, financial developments.

One member says policy phase shifted, focus must be on anchoring underlying inflation near 2%. 

One member said BoJ must act nimbly, show market determination to prevent inflation overshoot and consider impact on FX market. 

One member said central bank must accelerate rate increases if inflation exceeds target. 

Market reaction

At press time, the USD/JPY pair trades 0.03% higher at around 157.60.