Officials from the Bank of Japan are reportedly of the opinion that there is no need to rush to raise interest rates this month.

[Japanese Central Bank officials reportedly believe there is no need to rush to raise interest rates this month] According to informed sources, officials at the Bank of Japan believe that although the Japanese economy is moving towards achieving its price targets, there is no urgent need to raise the Benchmark Interest Rate next week. The sources said that as economic and inflation developments are generally in line with expectations, officials believe the likelihood of realizing their vision continues to gradually rise. They noted that while they do not rule out the possibility of raising interest rates again before the end of the year, so far there is no compelling factor that could convince them to raise rates when setting policy on October 30. In any case, the Central Bank will closely examine economic data and other factors until the last moment before making a final decision next week. The sources indicated that these factors will include developments in the financial markets, as the yen is more likely to affect inflation recently compared to the past. ( Jin10 )