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BOJ debated need for timely rate hike at June meeting, summary shows ========== The Bank of Japan (BOJ) debated the need for a timely interest rate hike at its June meeting, according to a meeting summary. One policymaker called for an increase without delay to address risks of inflation overshooting expectations. The discussion reflects the board's growing awareness of heightened inflationary pressure in the Japanese economy. The BOJ may consider raising interest rates as early as its next policy meeting on July 30-31. Some board members were cautious about an imminent rate hike, citing the need to assess whether rising wages will boost consumption. The BOJ has hinted at raising short-term rates to levels that neither cool nor overheat the economy. Japan's core inflation hit 2.5% in May, exceeding the BOJ's 2% target. The weak yen complicates the BOJ's policy path, as it helps keep inflation above target but pushes up households' living costs. The BOJ's monetary policy is based on trend inflation and wage developments, not short-term foreign exchange market developments. Market participants are divided on whether the BOJ will raise rates in July or later in the year. #BankOfJapan #InterestRateHike #Inflation #JapaneseEconomy https://www.investing.com/news/economy-news/boj-debated-need-for-timely-rate-hike-at-june-meeting-summary-shows-3492956