Some in BOJ saw need to raise rates soon, April meeting summary shows

Some Bank of Japan policymakers in April saw the need to raise interest rates soon. One board member signalled the chance of accelerating the pace of hikes if inflationary risks heightened. Another opinion suggested raising rates soon, barring evident signs of an economic slowdown. A third opinion showed that the BOJ may need to accelerate rate hikes without hesitation if upward risks to price increase. The BOJ kept its short-term policy rate steady at 0.75% at the April meeting, but sharply raised its inflation forecasts.