The Bank of Japan debated in June the chance of a near-term interest rate hike with one policymaker calling for an increase without delay to address risks of inflation overshooting expectations, a meeting summary showed Monday.
The discussion highlights the board's growing awareness over heightening inflationary pressure in the world's third-largest economy, which could prod the BOJ to debate raising interest rates as early as its next policy meeting on July 30-31.
The yen's recent declines have heightened the possibility of an upward revision to the BOJ's inflation forecasts, which means the appropriate level of its policy rate could move higher, one member was quoted as saying at the June 13-14 policy meeting.
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