BoJ debated need for more rate hikes at September meeting, summary shows

TOKYO: Some Bank of Japan (BoJ) policymakers saw the need to accelerate the pace of interest rate hikes or bring them closer to the central bank's "goal" soon, a summary of opinions at its September meeting showed on Thursday.

"If signs of an upward deviation in prices are observed, the bank will need to accelerate the pace of rate hikes," one member was quoted as saying.

At the September meeting, the BoJ raised interest rates to a 31-year high with its governor signalling the central bank has entered a new phase focused on preventing inflation from overshooting its target, opening the door to further rate hikes.