BOJ summary suggests good chance of December interest rate hike

Bank of Japan Gov. Kazuo Ueda indicated there’s a chance for another rate hike in December during a news conference after the October policy meeting. | Reuters

Nov 10, 2026

The Bank of Japan’s brief record of the latest policy meeting indicated many board members see a near-term interest rate hike as necessary, signaling there’s a good chance for a December move.

“The Bank should decide on the next policy interest rate hike when it is possible without becoming overly cautious,” one of the nine board members said, according to the summary for the Oct. 29-30 meeting released Tuesday.

Following sustained price gains, Japan’s central bank has sped up the pace of rate hikes, with current expectations settling around a quarterly pace of borrowing cost increases. Details from Tuesday’s summary of opinions suggested a higher confidence in hiking again in December.

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