Bank of Japan Considers Rate Adjustments

According to the minutes from the March meeting released on Thursday, the Bank of Japan (BoJ) board members are contemplating raising interest rates. This consideration is contingent upon the economic growth and inflation aligning with their projections.

Caution Advised Amid Global Uncertainties

One member highlighted the necessity for caution regarding the timing of future rate hikes, citing risks associated with US policy changes. Despite acknowledging the rising global uncertainty, some members argued that such conditions should not invariably lead to hesitation.

Flexible Approach in Monetary Policy

The minutes also revealed a potential shift towards a more flexible approach by Japan's central bank. This adjustment comes in light of the US Federal Reserve's (Fed) stated intention to maintain a patient stance on rate changes.