BOJ is said to lean against back-to-back rate hike in October

Bank of Japan Gov. Kazuo Ueda during a news conference at the central bank's headquarters in Tokyo last month | bloomberg

Oct 13, 2026

Bank of Japan officials are leaning against a rare back-to-back interest rate increase this month while still eyeing the possibility of another move as soon as December, according to people familiar with the matter.

The BOJ officials see little need for consecutive rate hikes in the absence of signs that upside inflation risks will increase abruptly, the people said. The central bank will instead carefully examine economic data to see if another hike is warranted as early as the December gathering, the people said.

The final policy decision at the Oct. 30 meeting could still change until the last minute, the people said.

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