BoJ Summary of Opinions noted that a member said it is appropriate to continue raising rates as underlying inflation nears the price target, while a member said maintaining policy is suitable to assess risks around the economy and prices a little more

Says: Member said there is some weakness in the economy, so the economic and price outlook must be carefully monitored. Member said it is appropriate to continue raising rates as underlying inflation converges towards levels consistent with the price target. Member said the BoJ should decide to raise rates when possible without becoming too cautious. Member said Japan is entering a new phase in which the BoJ needs to accelerate the pace of rate hikes towards levels deemed neutral for the economy. Member said underlying inflation has already reached 2%, and the BoJ needs to bring the policy rate to a neutral level soon. Member said the BoJ must monitor financial conditions over a period of a few months after each rate hike when adjusting the degree of monetary accommodation. Member said the BoJ must bring the policy rate to neutral at an early stage so it can respond flexibly when raising or lowering rates. Member said attention must be paid to the risk that future rate hikes could weigh on the economy and push down inflation. Member said Japan's neutral rate is likely to be significantly above 1%.