Bank of Japan Board Divided on Future Rate Hikes, July Minutes Reveal

Minutes from the July meeting show differing opinions on the pace and timing of interest rate increases amid economic uncertainties.

At the July meeting, the BOJ raised short-term interest rates to 0.25%, the highest since 2008.
Two board members supported further rate hikes, stressing a 'timely and gradual' approach to avoid rapid increases later.
Several members cautioned against moving too quickly, emphasizing the need to monitor economic risks and inflation expectations.
The BOJ outlined a plan to reduce its massive bond buying, marking a step towards phasing out a decade of extensive stimulus.
The yen strengthened and the Nikkei index suffered significant losses following the July rate hike decision.