Bank of Japan Leans Against October Rate Hike, Eyes December Amid Inflation Concerns

Bank of Japan (BOJ) officials are reportedly leaning against a consecutive interest rate increase in October, preferring to carefully examine economic data for a potential hike as early as December. Policymakers see little immediate need for back-to-back hikes without signs of an abrupt increase in upside inflation risks. The BOJ's final policy decision at the October 30 meeting could still change. This stance comes despite rising oil prices, which have increased about 15% since the BOJ's last quarterly economic projection, fanning inflationary pressures in import-reliant Japan.