Summary of Bank of Japan meeting shows increased willingness to raise interest rates internally

The summary of the Bank of Japan's January policy meeting shows that internal awareness of the necessity of raising interest rates is increasing. A committee member stated that responding to rising prices is the top priority, and the central bank should take interest rate hikes at the appropriate time, rather than overly examining the impact of policy interest rate adjustments. The summary shows that the committee led by Kazuo Ueda may raise benchmark interest rates faster than market expectations, and the frequency of yen depreciation and foreign exchange related content appearing in the summary has doubled compared to the last meeting.