BoJ's Himino says they expect to continue increasing rates in accordance with developments in the economic, price and financial situations

Timing and pace of action will be considered alongside the likelihood of the baseline scenario occurring. Underlying inflation is approaching 2%. Recent price rise are not driven just by temporary supply shock, is a risk of underlying inflation deviating from the price target. Monetary policy does not target FX moves, but compared with the past, FX moves have a bigger impact on inflation due to changes in corporate behaviour.